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Selina provided preliminary financial and operational information for Q1 2024 and FY 2023, showing significant progress in core business operations. The company negotiated the termination of 17 leased properties, leading to positive results in Q1 2024. Selina achieved a growth in GOP margin, reduced COH costs, and increased occupancy rates. Despite a decrease in revenue for Q1 2024, the company exited underperforming properties and focused on cost optimization, leading to improved profitability metrics. Management expressed confidence in the company's progress and partnership with a new investor, Osprey International
Selina Hospitality PLC announces key leadership appointments in its Operations and Commercial divisions to drive profitability and enhance guest experiences. New leaders bring extensive experience from renowned hospitality brands to further Selina's mission of creating authentic and memorable stays for its guests.
Selina Hospitality PLC, listed on NASDAQ as SLNA, has announced expedited funding of $6 million under a Subscription Agreement with Osprey International The funding will now be disbursed in four monthly installments of $1.5 million each through August 2024 instead of nine installments through December 2024. This decision showcases Osprey's confidence in Selina's progress and commitment to the company. Additionally, Selina entered into a Warrant Exchange Agreement with Bet on America , exchanging private placement warrants for ordinary shares. As of April 26, 2024, Selina has a total of 543,668,969 ordinary shares issued and outstanding.