DoubleDragon’s Hotel101 Gears Up for Nasdaq Listing

DoubleDragon Corporation’s subsidiary, Hotel101 Global Pte. Ltd., is on track to make a significant leap into the global financial market as it prepares for a listing on the Nasdaq Stock Exchange. Scheduled to file its prospectus in April, this strategic move marks a milestone for the company, signaling its readiness to expand its footprint on the international stage.

Edgar “Injap” Sia II, CEO of DoubleDragon, revealed the upcoming listing plans during a recent event in Makati City. While the final valuation is still under wraps, the anticipation builds as the company finalizes its preparations. Hotel101 has already secured the ticker symbol “HBNB” for its Nasdaq debut, with merger agreements with a special purpose acquisition company (SPAC) expected to be signed by March.

This venture positions Hotel101 Global to become the first Filipino company to list on the US Nasdaq Stock Exchange via a SPAC. DoubleDragon envisions Hotel101 Global emerging as one of the Philippines’ major brand exports, showcasing the country’s capability to develop business models and concepts with global appeal.

Hotel101’s ambitious expansion includes its first overseas projects in Niseko Hokkaido, Japan; Madrid, Spain; and Los Angeles, California. These initial forays serve as the foundation for its goal to establish a presence in 101 countries with a portfolio of 1 million rooms by 2050. The company targets further expansion in key markets across the UK, UAE, Asia, the Americas, and Europe, aiming to revolutionize the hospitality industry with its unique business model.

Each Hotel101 location averages 500 rooms, featuring prefabricated bathrooms, standardized furniture, and uniform lighting solutions, underscoring the brand’s commitment to consistency and efficiency. The international operations are expected to contribute significantly to the company’s revenue, with 95% projected to come from outside the Philippines. These earnings will be consolidated back to DoubleDragon, reinforcing the parent company’s financial strength and global brand presence.

As DoubleDragon reports a net income of P2.47 billion in the first nine months of 2023, the move to list Hotel101 Global on the Nasdaq underscores the company’s robust growth trajectory and its vision to become a dominant player in the global hospitality market.