Selina SPAC
Summary Financial Projections
($ in millions)
End of Period Beds (000s)
Selina Revenue (A)
Remote Year Revenue
Other Revenue¹
Total Revenue
(-) Selina Unit-Level Operating Expenses (B)
Selina Unit Level EBITDA (A) - (B)
Selina Unit Level EBITDA Margin %
(+) Technical Services Fees
(-) Pre-opening Costs²
(-) FF&E Reserve
(-) Remote Year Operating Expenses³
(-) Other Operating Expenses
Operating Income (Loss) before Corporate Overhe
(-) Corporate Overhead Expenses
Adj. EBITDA
Adj. EBITDA Margin %
Selina
2019A
11.7
$ 56
13
$ 69
$ (52)
$4
7%
(6)
"
(20)
$ (9)
(61)
$ (70)
NM
2020A
18.2
$36
$36
$ (54)
$(18)
NM
(2)
$ (20)
(41)
$ (61)
NM
■
2021E
22.4
$90
4
$93
$ (101)
$ (11)
NM
1
(2)
(2)
(3)
$ (13)
(29)
$ (43)
NM
2022E 2023E 2024E 2025E
53.6 76.2 101.6
35.2
$219
15
$ 234
$ (213)
$6
3%
8
(6)
(5)
(12)
$4
(42)
$ (37)
NM
$467
39
$ 506
$ (381)
$86
18%
19
(12)
(14)
(29)
$90
(52)
$ 38
7%
$763
60
$823
$ (587)
$ 176
23%
24
(15)
(23)
(41)
$ 181
(61)
$120
15%
$1,115
100
$ 1,215
$ (814)
$ 301
27%
27
(17)
(33)
(68)
$ 311
Note: Non-GAAP figures presented. Revenue figures include net booking amount from revenue derived from Travel & Tours.
1. Other Revenue: revenue derived from sites that generated revenue, but were not currently operating as a hotel under the Selina brand,.
2. Include operating costs incurred prior to opening a new location as well as costs associated with physical space within opened locations where that space is not operational.
3. Represents costs of operating the Remote Year business including CAC and delivery costs.
4. Includes Selina corporate overhead, Remote Year corporate overhead, and global IT operating expenses. Excludes any one-off expenses associated with public company preparedness and de-SPAC process.
(70)
$ 241
20%
EBITDA positive at the Unit-Level by 2022, with
3% Unit-Level EBITDA margin
Corporate overhead spend right-sized during
COVID-19. Jump from 2021 to 2022 due to
estimated incremental recurring costs
associated with becoming a public company and
returning employee related costs to normalized
levels post COVID-19
Economies of scale in corporate overhead spend
Projections contemplate Adjusted Corporate
EBITDA will breakeven in Q1 2023, under the
current expected opening timing of new
properties
FINANCIAL HIGHLIGHTS
50View entire presentation