Boutique hospitality group Selina has acquired Remote Year, a platform that operates programs for professionals who want to live and work in different locations around the world.
The move builds on Selina's pandemic-era push into the remote-live-work space, with the company unveiling a work-from-anywhere, subscription-based model in late August.
The financial terms of the all-stock acquisition were undisclosed.
Remote Year, which launched its first live-work program in 2015, specializes in one-, four-, six- and 12-month stays abroad, with participants able to choose from itineraries in cities throughout Latin America, Europe and Asia. Prices hover at around $2,000 per month, inclusive of flights, activities, a workspace and more, with itinerary down payments ranging from $3,500 to $5,000.
"With the acquisition of the Remote Year brand, and the launch of our subscription-based packages, it's clear that our business modelis well-positioned to support not only longstanding digital nomads but also a new generation of remote workers that are being offered more flexible work environments by companies looking to attract and retain talent," said Selina cofounder and CEO Rafael Museri in a statement.
Under the Selina umbrella, Remote Year will remain a separate brand. The platform will enhance its programming with access to Selina's portfolio, which spans 76 locations throughout Latin America, the U.S. and Europe. Selina, which launched in 2015 as a millennial-focused hotel company, received a $100 million funding boost last year.
Selina's work-from-anywhere subscription packages include the Selina Nomad Passport, which enables members to purchase 30-, 60- or 90-night credits at discounted rates; the Selina CoLive plan, which provides access to any Selina property for a one-, three- or six-month stay; and the B2B Remote Work Pass, which enables companies to purchase one- to 12-month stays for their remote-working employees.
The Nomad Passport and CoLive packages range from $180 to over $2,000 per month, depending on region, property and room type.