DoubleDragon Starts Pre-Selling Of Hotel Project

DoubleDragon Properties Corp. (“DoubleDragon”) hotel subsidiary, Hotel of Asia Inc. (“Company"), today has secured all the necessary building permits which now authorizes the Company to begin the construction and pre-selling activities in its latest Hotel 101 project in Cebu.

Photo Insert: Hotel 101 Mactan Airport, Cebu

Hotel 101 - Cebu Mactan Airport with its 548 rooms will be the biggest airport hotel in the Visayas and Mindanao Region and will rise in a 5,493 square meter prime commercial lot along the Cebu Mactan Airport Terminal Road near Mactan Marina Mall.

With Hotel 101 – Cebu Mactan Airport as a new addition, Hotel 101 now has the essential strategic seeds in place towards its near-term goal of becoming the top-of-mind branded hotel chain in the country.

HOTEL 101 pipeline of inventory from secured prime titled land sites in Cebu, Libis, Boracay, Palawan, and Bohol are expected to generate ₱ 18.14 Billion in revenues and these 5 additional Hotel 101 properties which are all expected to be completed by 2024.

The operation of these Hotel 101 projects will be just in time for the expected upswing and full post-Covid19 recovery by 2024. These projects will also enable DoubleDragon to reach its 5,000 room hotel portfolio goal by 2025, giving DoubleDragon one of the largest portfolios of hotel rooms in the Philippines.

The beach sites of the Hotel 101 projects in Boracay, Palawan, and Bohol are prime white sand beachfront properties that are designed to be eco-friendly with complete modern sustainable features and facilities.

The projects will adopt sustainable best practices from design to implementation and adopt sustainable practices to reduce and reuse energy, waste, and water. The projects will be powered by solar energy and will be equipped with a rainwater harvesting system and to become a LEED (Leadership in Energy and Environment Design) certified development.

The Hotel 101 asset-light concept allows DoubleDragon to generate revenue and income twice, first from the pre-selling of the condotel units, then secondly after the project is completed it starts to generate long-term recurring revenue from hotel operations.

“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 II.

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