ON APRIL 27, 2023, DoubleDragon’s subsidiary Hotel101 Global Pte. Ltd. signed a Binding Agreement for the purchase of 6,593 square meters of prime commercial land in Madrid, Spain.
The Hotel101-Madrid site in Avenida Fuerzas Armadas, Valdebebas, Madrid is surrounded by major landmark buildings. It is a three-minute walk to the Valdebebas Train Station, four-minute walk to IFEMA convention complex, five-minute walk to Real Madrid Sports Complex, and around seven minutes to the new Madrid Barajas International Airport.
Hotel101-Madrid will have 736 rooms and will be the first Hotel101 development in Europe.
The usual Hotel101 facilities will also be available in Hotel101-Madrid 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-Madrid is set to become one of the Top 5 largest hotels in Madrid, Spain and the very first homegrown Filipino hotel chain to enter Spain.
DoubleDragon’s vision for Hotel101 is to become world-class in all standards and create job opportunities to Filipinos who reside in the Philippines or abroad, and bring a pinch of pride and honor to each and every Filipino from anywhere around the world where Hotel101 will eventually locate and operate.
Robust condotel sales revenue of about €143.3 million (P8.8 billion) is expected to be generated from the Hotel101- Madrid project given the high real estate investment demand in Madrid driven by the Spanish Golden Visa.
About Hotel101 Global Pte. Ltd.
The Singapore-registered Hotel101 Global Pte Ltd is the worldwide hotel expansion subsidiary of Philippine parent company DoubleDragon Corporation.
DoubleDragon targets to list its subsidiary Hotel101 Global Pte Ltd at NASDAQ (US Stock Exchange) given that eventually Hotel101 Global is expected to derive over 95% of its revenues outside the Philippines.
The first three overseas Hotel101 projects will be in Niseko, Hokkaido, Japan; Madrid, Spain; and California, USA. These first three overseas sites will serve as bridge projects to jumpstart the transition of Hotel101 to transcend beyond these first three countries and become a global brand with a truly unique business concept that can be planted in over 100 countries.
Target near-term expansion roadmap for Hotel101 Global is to be in these first 25 countries by 2026 namely: Philippines, Japan, Spain, USA, United Kingdom, UAE, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia,
Canada, Switzerland, Turkey, Italy, Germany, France, and China.
“Hotel101 Global’s unique and pioneering portable business model is geared to standardize the affordable 3-star hotel segment globally. Hotel101 Global will soon be recognized as one of the most technologically advanced hotel chains across all parts of its value chain. The next version of the Hotel101 App is set to integrate the fully automated self-check-in system with IOT (Internet Of Things) capability,” said DoubleDragon Chief Investment Officer and Hotel101 Global CEO Hannah Yulo-
Luccini.
“If there is one hotel chain that can optimize the use of modern technology in the global hospitality space, we believe it will be Hotel101 given its pioneering standardized single room type asset-light concept globally,” said DoubleDragon Corporation and Hotel101 Global Chairman Edgar Injap Sia II.
He added: “Hotel101 Global is envisioned to eventually become one of the Top 5 hotel brands globally with a total room portfolio exceeding 500,000 uniform rooms operating in 100 countries by 2040.”/PN
