Operator swoops on Selina backpacker portfolio
Fast growing backpacker accommodation provider Bounce is acquiring the local portfolio of Selina Australia, control of which was taken over in August by private lender Dorado Capital.
Following a debt for equity deal, the Sydney based buyer will rebrand and upgrade the four venues presently trading as Roamers.
In Melbourne, this will include 250 Flinders Street, in the CBD (pictured, top), and in St Kilda, at 24 Grey St – the historic former St Kilda Coffee Palace.
Two Queensland hostels, 466 George St in Brisbane’s CBD and at Horseshoe Bay on Magnetic Island, also form part of the deal.
Bounce keeps expanding
Bounce, a division of Hunter Investment Corporation, was established in 2021 (story continues below).
“With this expansion, our hotel portfolio will…exceed nine hotels,” director Nicholas Cavasinni, added.
“On top of that, construction for our Surfers Paradise development has begun and work on our George St [Sydney] location kicks off early next year,” he added.
The group also holds assets in Airlie Beach, Cairns and Noosa.
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