Overseas Hotel101 has remarkably generated robust cash payment inflows from unit buyers, surpassing the company’s expectations. DoubleDragon has achieved a significant milestone by receiving cash payments in foreign currency equivalent to over $10 million USD from numerous retail buyers, collected in just a few months, primarily in the second quarter of 2024. Given the positive trajectory of its overseas projects, DoubleDragon anticipates capturing over $100 million USD (approximately 5.8 billion pesos) in contracted unit sales within the next 12 months.
Hotel101-Madrid in Spain is now in full swing with construction works proceeding as scheduled following its groundbreaking in March 2024. Overseas Hotel101 has remarkably generated robust cash payment inflows from unit buyers, exceeding the company’s expectations. DoubleDragon has reached a historic milestone by receiving cash payments in foreign currency equivalent to over $10 million USD from numerous retail buyers in just a few months, primarily in the second quarter of 2024.
Given the positive trajectory of its overseas projects, DoubleDragon anticipates capturing over $100 million USD (approximately 5.8 billion pesos) in contracted unit sales within the next 12 months. The construction of Hotel101-Madrid is being carried out by Ferrovial Construcción, one of Spain’s largest construction companies, and is scheduled to be completed by Q4 2025.
Hotel101-Madrid is expected to open just in time for the start of the Madrid F1 Grand Prix, which is located right beside the property. The 680-room Hotel101-Madrid project is set to become one of the top five largest hotels in Madrid. It is situated on a 6,593 square-meter prime commercial property along Avenida Fuerzas Armadas, Valdebebas, Madrid, surrounded by major landmarks. The hotel is about a 3-minute walk to the Valdebebas Train Station, a 4-minute walk to the IFEMA convention complex, a 5-minute walk to the Real Madrid Sports Complex, and approximately 7 minutes from the new Madrid Barajas International Airport.
