IDB Invest promotes the reactivation of sustainable tourism in Latin

NEW YORK, Dec. 9, 2020 /PRNewswire/ — IDB Invest, a member of the IDB Group, provided a $50 million mezzanine facility for Selina, the global chain of lifestyle hotels, to support the continuity of its expansion plans in Latin America and the Caribbean.   

IDB Invest’s financing, which includes funds mobilized from Blue like an Orange Sustainable Capital, will allow Selina to enhance its liquidity during the COVID-19 pandemic, expand its geographic presence in Latin America and the Caribbean, and incorporate innovative concepts and amenities across its property portfolio. Tourism is a major contributor to economies and features high development income and in the context of the pandemic, tourism companies require liquidity to embrace the gradual recovery of the sector.   

“We will aim to support Selina’s disruptive business model and its growth potential in Latin America and the Caribbean, especially in a post-COVID environment. Upcycling existing inventory into vibrant lodging concepts, that feature co-working spaces and highly-amenitized entertainment areas, represents a different value proposition. The ability to attract foreigners and locals alike makes the concept unique and authentic and contributes to our sustainable tourism development strategy to the region”, explained Rogerio Basso, Head of Tourism of IDB Invest.

Selina generates employment opportunities for local artisans, offers training to vulnerable groups, and promotes the inclusion of micro, small and medium-sized enterprises into its value chain. The global chain operates 80 lifestyle hotels worldwide, 60 of those in 12 countries in Latin America and the Caribbean. Its business model consists of generating a more efficient use of spaces by converting underperforming properties into modern hotels, that feature a mix of private and communal accommodations, dedicated co-working areas and locally curated food and beverage concepts.

Furthermore, each property is developed using recycled or up-cycle materials for construction and decoration and several properties are in rural areas, that had limited international tourism prior to Selina’s entrance. The company has adapted to the COVID-19 crisis by being focus on more efficient operations, longer-term stays and its newly launched subscription model.

“We’re excited to partner with IDB, who are at the forefront of implementing development growth and social change in Latin America and the Caribbean. IDB’s investment in Selina will provide the company with significant funding and resources as we continue to grow and operate in Latin American and the Caribbean. And, perhaps more importantly, IDB is the perfect partner for Selina in its ongoing mission to give back to the local communities in which we operate and to improve lives throughout the region” said Rafael Museri CEO & Co-Founder of Selina

IDB Invest’s mezzanine financing consists of a $35 million loan from IDB Invest resources and the mobilization of a US$15 million B-Loan from Blue Like an Orange Sustainable Capital. This is the third joint operation between the two institutions, as part of a co-financing framework agreement to catalyze investments with high-development impact in the region. The transaction also serves as a reference on how to model and structure other similar tourism deals across the region’s fast-growing lifestyle accommodation segment. 

Through this transaction, IDB Invest demonstrates its commitment to reactivating sustainable tourism across the region. In the context of the COVID-19 crisis, the recovery of tourism destinations and local communities will be supported by lodging operators like Selina, capable of attracting so-called “digital nomads” and recognizing the likely changes in geographic flexibility for workers post-pandemic.

For press inquiries, please contact:
Selina PR Team |

About Selina

Selina is one of the world’s fastest-growing hospitality brands, blending beautifully designed accommodations 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 Latin America in 2015, each Selina property is designed in partnership with local artists, creators, and tastemakers, breathing new life into existing buildings in interesting locations worldwide–from urban cities to remote beaches and jungles. Selina currently operates 80 locations in 19 countries throughout Latin America, the USA, and Europe. For further information on Selina, visit or check out @selina on Instagram or Facebook.

About IDB Invest 

IDB Invest, a member of the Inter-American Development Bank Group (IDB Group), is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $13.1 billion in assets under management and 385 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.

About Blue like an Orange Sustainable Capital

Blue like an Orange Sustainable Capital seeks opportunities to lend to companies and projects that deliver both strong risk-adjusted returns and positive social impact in support of the UN’s Sustainable Development Goals. Blue like an Orange Sustainable Capital focuses primarily on Sustainable infrastructure & Technology Enabled Services, Social Infrastructure (Healthcare and Education) & Agriculture and Access to Finance. The Company strives for sustainable development outcomes to foster inclusive and sustainable growth without a trade-off with respect to market level rates of financial returns. Blue like an Orange Sustainable Capital’s founding partners are Bertrand Badré, Amer Baig, Suprotik Basu, Rashad Kaldany and Emmanuelle Yannakis.

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