There’s a new variation on co-working, and it’s heading to Los Angeles.
Panama-based Selina offers hotel services, co-working space and even wellness classes to its clients. After building a presence in Latin America, the firm is now scouting locations in L.A., eyeing trendy neighborhoods like Silver Lake and Venice in preparation for launching four or five locations in the city, the Commercial Observer reported.
The hospitality firm typically purchases existing hotel properties and later transforms them into a millennial-friendly space with 150 to 500 beds. Nightly prices range from $10 for a bed in a shared room to $500 for a private, five-star experience. Meanwhile, its co-working component starts at $10 per day for a workspace.
Founded in 2015, Selina operates 22 properties in Latin America and the Caribbean. It is planning on opening 15 locations in the next year, starting with its first U.S. presence in Miami, at the historic Tower Hotel in September.
It plans to have 54,000 operating beds across the world by 2020. About 8,000 to 10,000 of those beds will be in California, a Selina representative told the Observer.
Adam Neumann, co-founder of WeWork, is an investor in Selina, The Real Deal previously reported.
Selina isn’t the only co-working company to be settling into the L.A. landscape. Others include Cannabis-friendly Paragon Space, which recently inked a deal for a space on Sunset Boulevard; and Work Well Win, which sets up shop in Santa Monica. The three will be joining co-working companies WeWork, Cross Campus, NeueHouse and Regus’ Spaces, among others, which already have locations in L.A. [CO] — Natalie Hoberman