DOUBLEDRAGON’S subsidiary Hotel101 Global Pte. Ltd. has secured a 3,647-square meter prime corner lot property located in Los Angeles, California, USA.
The Hotel101-Los Angeles site is in the Westlake North District of Los Angeles. It is conveniently located about five minutes from Downtown LA, Dodger Stadium and the previous Staples Center, and only about a 10-minute drive to Hollywood and about a 20-minute drive to Beverly Hills. The location is very accessible to Highway 101 and the Los Angeles International Airport (LAX) is only about a 20-minute drive.
Hotel101-Los Angeles is planned to have 622 units subject to entitlement and zoning approval and will be the first Hotel101 development in the United States. In addition to the usual Hotel101 facilities such as an all-day dining restaurant (concessionaire-operated), a business center, swimming pool and a fitness gym, as well as commercial space for a 24-hour convenience store, Hotel101-Los Angeles is planned to have a large convention center and function rooms with breathtaking views of the entire Los Angeles skyline.
Sales revenue of about US$183 million (P10.3 billion) is expected from the project.
“As history has taught us, major economic recessions have actually served as a launchpad for many inspiring entrepreneurs to leap forward. These temporary periods of dislocation and chaos have created rare windows of opportunity for their businesses to strengthen their market grip and enable many of them to become what we know today as the world’s most incredible and durable businesses,” said Edgar “Injap” Sia II, chairman of DoubleDragon Corporation.
“This step completes the first three strategic overseas sites of Hotel101 located in Japan, Spain and USA, and is set to enable Hotel101 to transcend as a truly global brand,” added Hannah Yulo-Luccini, CEO of Hotel101 Global Pte. Ltd./PN
