By VG Cabuag
BusinessMirror / February 4, 2025
https://businessmirror.com.ph/2025/02/04/doubledragon-unit-all-set-to-list-on-nasdaq/
DoubleDragon Corp. said its unit Hotel101-Global has filed the documents for its listing via a special purpose acquisition company (SPAC) on the Nasdaq Stock Exchange.
This marks a significant step forward as it moves closer towards its upcoming $2.3-billion Nasdaw listing, following months of rigorous preparation and compliance with the US Securities and Exchange Commission and Nasdaq’s registration and listing requirements, the company said.
With this milestone, DoubleDragon is on track to make history as the first-ever Filipino company to have a subsidiary, Hotel101 Global, listed and traded on the Nasdaq under the ticker symbol HBNB.
“Management believes that Hotel101 is a global ‘one room’ hotel chain poised to disrupt the tourism industry by offering identical, standardized hotel rooms around the world, creating what management believes to be unbeatable efficiency, simplicity, and value,” the company said.
It also said Hotel101s are efficient to build, maintain, and operate – as well as to scale and expand through direct development, joint venture partnerships and licensing.
“Hotel101’s asset-light business model allows us to generate revenues twice: first from the pre-selling of strata-titled individual hotel units during the construction phase; and second, from the long- term recurring revenue derived from day-to-day hotel operations following completion of the units,” Hannah Yulo-Luccini, CEO of Hotel101, said.
“Building on the success of our business model in the Philippines—where we have several operating properties and a number under development—and our ongoing international expansion to Japan, Spain, and the US, we believe that a Nasdaq listing will provide Hotel101 with access to public capital markets and help accelerate our global expansion plans,” she added.
The export of Hotel101 brand is expected to eventually become one of the major US dollar inflow generators to the Philippine economy.
DoubleDragon’s string of titled investment properties strategically planted in prime locations spread out in Luzon, Visayas, Mindanao and overseas serves as its strong underlying solid foundation.
The upcoming Hotel101 Global listing in the US will further strengthen DoubleDragon’s balance sheet. The two major equity capital raises in the pipeline are expected to significantly boost DoubleDragon’s balance sheet and enhance its equity base through the expected US listing of Hotel101 Global and initial public offering of CentralHub.
