Hospitality brand Selina has reported record revenue for the first half of 2022.
The company, which announced a plan to go public via a business combination almost a year ago, says revenue for the period was $86 million.
The figure represents a 142% increase year-on-year, which Selina attributes to new openings as well as improved operating performance.
The company opened 13 properties in the half-year period across Greece, Australia, Portugal, Panama, the U.S., Morocco and Israel.
Total revenue per bedspace increased 77% to $3,233.
Selina had originally planned to go public via a combination with BOA Acquisition Corp. in the first half of 2022 but delayed the transaction.
The company has now announced that a meeting of stockholders to get approval for the business combination with BOA Acquisition Corp has been scheduled for October 21.
Rafael Museri, co-founder and chief executive of Selina, says: “We are incredibly pleased with what we believe to be our continued strong momentum across each of our key priorities – our focus on robust property operational performance, new openings, and meaningful progress towards becoming a publicly traded company.”
He adds that once the business combination closes, the company plans to appoint five new directors with expertise across public company leadership, finance, operations and technology.
In its recent investor deck, Selina says it plans to expand into tours and experiences as well as the production of music festivals and large events.