Why Has Selina Hospitality (SLNA) Stock Increased In Extended Session On Friday?

The stock of Selina Hospitality PLC (NASD: SLNA), which participated in a significant event, increased 9.42% to $3.95 in after-hours trading on the latest check Friday.

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Which event will SLNA take part in?

On November 21, 2022, from 9:15 to 9:55 AM in Track 2, Selina Hospitality (SLNA) representatives will attend the second annual Needham Consumer Tech / E-Commerce Virtual Conference. Representatives from Selina Hospitality will give an update on the organization and talk about market and business issues that may affect SLNA.

A collaboration move by SLNA

SLNA’s network of 163 sites spanning 25 countries and six themes will now provide wellness retreats thanks to a strategic relationship with Selina Hospitality and Mantra, a global retreat operator. This is SLNA’s first foray into the retreat industry, and it will result in the creation of a distinct organization devoted only to developing these engaging health experiences. According to the Global Wellness Institute, the wellness sector is expected to reach around $7.0 trillion in 2025. Through its cooperation with Mantra, Selina Hospitality will be able to capitalize on this expanding market niche while optimizing savings on distribution and operational costs.

Mantra is renowned for its transforming programs that offer one-of-a-kind experiences by bringing together the top yoga, meditation, and movement instructors with live music, gourmet experiences, and day trips to offer a complete mind, body, and soul retreat. Throughout SLNA’s expansive and diverse hotel network, whether in the middle of the desert, the rainforest, or any other hip, urban area, Mantra will be curating local wellness talent (teachers, chefs, musicians, etc.) and creating tailored programs.

Mantra has organized more than 50 retreats, corporate offsites, and festivals since its foundation in June 2020 before collaborating with SLNA. Over 5,000 people attended these events, which took place in Israel, Greece, Cyprus, Egypt, and Sri Lanka. Thanks to this relationship, they will now be held in even more countries throughout the world.

How does SLNA see the collaboration?

Selina Hospitality (SLNA) will be at the fore of this change in international travel and retreat experiences by supporting a brand like Mantra. The agreement presents SLNA with a fantastic chance to expand its clientele and break into the wellness sector by giving leaders, instructors and coaches stunning venues in which to share their special knowledge and experiences with people all over the world.