Selina Expects to Exceed 2021 Revenue Forecast, Celebrates Record Month of Openings in December with New Locations Across Seven Countries

New properties add more than 2,800 beds to Selina’s growing network, including market launches in Australia, Uruguay and Thailand

NEW YORK--(BUSINESS WIRE)-- Selina, the fast-growing lifestyle and experiential hospitality brand targeting Millennial and Gen Z travelers, announced today that it celebrated a record month in December with the opening of six new destinations and the soft launch of an additional six locations. This represents the highest-volume month of openings in the company’s history, at a pace of three per week. Collectively, these new locations add more than 2,800 beds to Selina’s global network of hotels for remote workers and digital nomads and advance the brand's global expansion, marking its entrance into the new markets of Uruguay, Australia and Thailand. Of the 12 locations, four are in Israel, three are in Brazil, and the others are located in Panama, Argentina, Uruguay, Australia and Thailand.

Selina saw an acceleration of sales throughout fiscal year 2021, leading to an exceptionally strong fourth quarter. As a result, the company expects to exceed its 2021 revenue forecast of $93 million. December marked the most active month in the company’s history, culminating with New Year’s Eve celebrations in 18 countries across four continents, including a massive celebration in the Ramon crater deep in the Israeli desert, a multi-day music event on the white sandy beaches of Tulum, a New Cycle festival in Santa Teresa, a gourmet dinner in the Austrian Alps, a Discofobia x Selina party in the Sacred Valley of the Incas, and a rooftop soiree in New York.

Selina leverages its proprietary technology to identify and renovate underperforming hotels in partnership with local real estate owners, who cover 90% of conversion costs, and artisans, who embed a local cultural influence, to create destinations that combine the comfort and style of a boutique hotel with coworking facilities and the social experiences of a retreat or festival, driving significant increases in revenue compared to a property’s prior operations. Selina used its proprietary technology to source all of its newly-opened properties, creating a cost-efficient process that eliminated the need for intermediaries. The vibrant, unique, and authentic atmospheres that Selina destinations cultivate allow travelers to build meaningful connections, and 66% of guests, on average, report meeting a new friend during their stay.

Rafael Museri, Selina’s Co-Founder and Chief Executive Officer, said, “Our strong performance in December is a testament to the strategic location, design and activation of our properties, which appeal to locals and domestic travelers as much as global visitors. This has allowed us to continue growing at a time when global travel has been substantially reduced. Simply put, our hotels are in the places locals and tourists alike want to visit, and they are activated with the exciting events, restaurants and other programming that support strong activity during high and low international travel seasons. We are uniquely in tune with the needs of Gen Z and Millennial travelers, and we will continue to focus on implementing new products – such as co-living and other flexible travel products – that provide the experiences this cohort is seeking. We believe this strong momentum will lead to continued growth throughout 2022, powered by our tech-enabled infrastructure, engaging brand and authentic global community.”

The six newly-opened properties include:

• Selina Punta del Este, Uruguay: Located on the beach in Punta del Este, Uruguay, Selina Punta del Este comprises 210 beds in an iconic cityscape with beautiful beaches, artisanal markets, trendy neighborhoods and world-class cuisine. The property features a pool bar with an open-air chiringuito atmosphere, an outpost of the Japanese Peruvian Fabric Sushi restaurant, a retail store selling signature merchandise, a wellness deck for yoga lessons and tea ceremonies, an engaging coworking space, and a stunning rooftop with breathtaking ocean views.
• Selina Melbourne, Australia: Selina's first Australian property is located in the heart of Melbourne, overlooking the scenic Yarra River in the city's central business district – perfect for those looking to explore designer boutiques, boho cafés, and vibrant bars, or take in the sights at St. Paul's Cathedral and Federation Square. The 181-bed hotel features a cozy library, a cinema room, a common kitchen, a buzzing basement bar, and a productivity-inducing coworking space.
• Selina Foz do Iguaçu, Brazil: The 407-bed Selina Foz do Iguaçu is located in a hub for culture and natural wonder at the heart of the city, close to Iguaçu Falls – the largest waterfall in the world. Foz is known for its multicultural diversity and is home to several religious monuments with the Chen Tien Buddhist temple, the Omar Ibn Al-Khatab Mosque, and a number of Latin-inspired cathedrals all just minutes away.
• Selina Venao River, Panama: Selina Venao River is an easy living oasis in one of the world’s best surfing destinations. A hidden gem at the heart of the jungle, the 154-bed property is surrounded by gorgeous jungle views, the soothing sounds of the river, Playa Venao, and the Pacific Ocean’s year-round waves. Guests get the best of both worlds, with an off-the-grid feel combined with easy access to Cambutal and Pedasí Town. The property features include an outdoor pool, a vegan restaurant serving freshly-prepared dishes, a cinema room, a wellness area and a library, as well as the biggest coworking space in town complete with high-speed WiFi, meeting rooms, hot desks and plenty of natural light.
• Selina Bonito, Brazil: A picture-perfect ecotourism hub, Bonito is well-known for its unbeatable natural charm, crystal clear rivers, and a respect for the environment that permeates everything and everyone. Located just around the corner from the main square, the 190-bed Selina Bonito allows locals and travelers to flock to the streets to explore the beauty of this hidden gem. On-site features include a restaurant, coworking space, wellness studio and a buzzing poolside bar.
• Selina Salta, Argentina: Located on the Main Street of Balcarce, the 120-bed Selina Salta sits in the heart of this buzzing neighborhood. The main square is a quick 25-minute walk away and is home to some true jewels of Argentine Colonial history including the San Francisco church, the Cabildo and the Museum of High Altitude Archaeology. The hotel features a wellness area, a restaurant, a well-appointed coworking space and a vibrant rooftop bar.

With these new openings, Selina’s hotel platform has grown to 144 open or secured properties across five continents including North and South America, Europe, the Middle East and Asia Pacific, of which 90 are open and operating. This growth is being driven by the significant mismatch between demand and supply for attractively priced accommodations that serve the Millennial and Gen Z market – an important and quickly growing segment of the population that are estimated to spend approximately $350 billion per year on travel. Selina expects to continue to benefit from the surge in remote working and the prioritization of health, wellness and experiences among Millennial and Gen Z travelers.

About Selina
Selina is one of the world's largest hospitality brands built to address the needs of Millennial and Gen Z travelers, blending beautifully designed accommodation with coworking, recreation, wellness, and local experiences. Custom-built for today's nomadic traveler, Selina provides guests with a global infrastructure to seamlessly travel and work abroad. Founded in 2015, each Selina property is designed in partnership with local artists, creators, and tastemakers, breathing new life into existing buildings in interesting locations around the world – from urban cities to remote beaches and jungles. Selina's portfolio includes 144 open or secured properties across 25 countries. On December 2, 2021, Selina entered into a business combination agreement with BOA Acquisition Corp. (NYSE: BOAS) (“BOA”) that will result in Selina becoming a publicly listed company on the New York Stock Exchange under the new ticker symbol “SLNA,” subject to the satisfaction of standard closing conditions. For further information on Selina, visit www.selina.com or check out @selina on Instagram or Facebook.

About BOA Acquisition Corp.
BOA Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While BOA may pursue an initial business combination target in any business or industry, it intends to focus its search on businesses that provide technological solutions and innovation to the broader real estate industry.

Additional Information and Where to Find It
This document does not contain all the information that should be considered concerning the proposed business combination between BOA and Selina (the “Business Combination”). In connection with the proposed Business Combination, Selina intends to file with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form F-4 (the “Registration Statement”), which will include a preliminary proxy statement of BOA and a prospectus. The definitive proxy statement and other relevant documents will be mailed to stockholders of BOA as of a record date to be established for voting on the Business Combination. Stockholders of BOA and other interested persons are advised to read, when available, the preliminary proxy statement and amendments thereto, and the definitive proxy statement because these documents will contain important information about BOA, Selina, and the proposed transactions. Stockholders will also be able to obtain copies of the Registration Statement and the proxy statement/prospectus once they are available, without charge, by directing a request to: BOA Acquisition Corp., 2600 Virginia Ave NW, Suite T23 Management Office, Washington, D.C. 20037. These documents, once available, and BOA’s other filings and reports filed with the SEC can also be obtained, without charge, at the SEC’s internet site (http://www.sec.gov).

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

No Offer or Solicitation
This communication is for informational purpose only and not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

Participants in Solicitation
BOA, Selina, and their respective directors and executive officers, other members of management and employees may be considered participants in the solicitation of proxies with respect to the potential transaction described in this communication under the rules of the SEC. Information about the directors and executive officers of BOA is set forth in BOA’s filings with the SEC. Information regarding other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders in connection with the potential transaction and a description of their direct and indirect interests will be set forth in the Registration Statement (and will be included in the proxy statement/prospectus) and other relevant documents when they are filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

Forward-Looking Statements
This communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events, including, without limitation, statements regarding the anticipated timing and benefits of the Business Combination, expectations or plans of Selina’s management, and Selina’s future financial or operating performance, including, without limitation, the preliminary 2021 revenue results. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential,” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties (some of which are beyond the control of Selina), and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Selina and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, without limitation: (1) the occurrence of any event, change, or other circumstances that could give rise to the termination of the definitive agreements respecting the Business Combination; (2) the outcome of any legal proceedings that may be instituted against BOA, Selina, or others following the announcement of the Business Combination; (3) the inability to complete the Business Combination due to the failure to obtain approval of the stockholders of BOA or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations; (5) the ability of Selina to meet applicable listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of Selina as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers, and retain its management and key employees; (8) costs related to the Business Combination; (9) changes in applicable laws or regulations; (10) the possibility that Selina may be adversely affected by other economic, business, and/or competitive factors; (11) the impact of the COVID-19 pandemic on Selina’s business and/or the ability of the parties to complete the Business Combination; and (12) other risks and uncertainties to be contained in the proxy statement/prospectus filed after the date hereof. In addition, there may be additional risks that Selina does not presently know, or that Selina currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as may be required by law, Selina does not undertake any duty to update these forward-looking statements.

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