ILOILO City – DoubleDragon Properties Corporation (DoubleDragon) will launch pre-selling activities in three new Hotel 101 projects this year.
These are Hotel 101- Cebu, Hotel 101 Resort- Boracay, and Hotel 101- Libis.
DoubleDragon said the new projects would add 2,251 new rooms to its hotel portfolio. It also expects a P11.03 billion in sales revenues from the projects.
The Hotel 101 model being a three-star affordable hotel, maintained high occupancy as it provided accommodation to employees of BPO companies at the height of the pandemic.
Hotel 101’s ‘Happy Rooms’ have the amenities of a studio unit, equipped with kitchenettes in each room, which makes it suitable for long-staying guests.
The Hotel 101 concept allows DoubleDragon to generate revenue and income twice, first from the pre-selling of the condotel units, and then after the project was completed it starts to generate long-term recurring revenue from hotel operations.
The room rates are dynamic, just like purchasing an airline ticket where prices go up and down multiple times every day depending on the supply and demand for the specific booking period.
“As far as we are aware, Hotel 101 is the only hotel concept of its kind in the world, the Patent documents for Hotel 101’s unique and pioneering concept has already been filed,” said DoubleDragon chairman Edgar “Injap” Sia.
Sia hopes the company will be an investment holding company with several subsidiaries in the multiple sunrise industries. As the ultimate parent company, DoubleDragon will usher its subsidiaries to conduct initial public offerings one by one when the right time comes.
“Hotel of Asia is one of the major subsidiaries of DoubleDragon, in addition to DDMP REIT, CityMall Commercial Centers, and CentralHub Industrial Centers, Hotel of Asia’s Hotel 101 will be one of the driving forces of DD’s core growth in real estate which is the first industry leg it has formed,” Sia added.
“The Hotel 101 model has proven to be truly resilient, even in these circumstances it was able to deliver as much as 6.72 percent gross annual yield to its original Hotel 101 – Manila unit owners, which is much higher than most corporate bond yields last year,” said DoubleDragon chief investment officer Hannah Yulo-Luccini./PN
