By The Financial District
Nov 21, 20231 min
The NASDAQ Stock Exchange displayed a congratulatory message for Hotel101 Global Pte. Ltd., a subsidiary of DoubleDragon Corporation, on its expansion to the U.S.A. and the agreement for the Hotel101-Los Angeles California site.
Hotel101 Global is expected to generate over 95% of its revenues outside the Philippines, with plans to reach a valuation of up to US$17 billion. I Photo: Hotel 101-Manila Facebook
The iconic seven-story NASDAQ Tower in Times Square, New York, featured a banner expressing congratulations to Hotel101 Global and showcased the company's logo. DoubleDragon Chairman Edgar “Injap” Sia II stated that Hotel101's asset-light business model is pioneering and hasn't been implemented anywhere else globally.
Hotel101 Global CEO Hannah Yulo-Luccini mentioned that the company is engaged with select Special Purpose Acquisition Company (SPAC) targets and aims to sign a business combination agreement soon.
The SPAC route is considered to accelerate Hotel101 Global's expansion plans and the timetable for its IPO on the US NASDAQ Stock Market.
Hotel101 Global is expected to generate over 95% of its revenues outside the Philippines, with plans to reach a valuation of up to US$17 billion. The first three overseas Hotel101 projects will be in Niseko Hokkaido, Japan; Madrid, Spain; and California, USA.
The company envisions becoming one of the most technologically advanced hotel chains globally, with a unique business concept that can expand to over 100 countries.
The near-term expansion roadmap includes countries such as the Philippines, Japan, Spain, USA, United Kingdom, UAE, India, Thailand, Malaysia, Vietnam, Indonesia, and others by 2026.