DoubleDragon stands out among a select few companies, not only for its diversified hard asset portfolio across the Philippines but also for pioneering a novel asset-light concept with its highly unique Hotel101 (HBnB) business model, poised for global export. The anticipated export of Hotel101 is expected to become a significant contributor to the Philippine economy in terms of US Dollar inflow.
This year marks a significant milestone for DoubleDragon Corporation as it is expected to surpass ₱100 Billion in Total Equity for the first time in 2024, positioning itself among the elite few with Total Equity at a 12-digit level in the Philippines. Moreover, the company holds the prestigious PRS Aaa (Triple A) credit rating from the Philippine Rating Services Corporation, reflecting its financial strength and stability.
DoubleDragon’s extensive portfolio of titled investment properties strategically situated across Luzon, Visayas, Mindanao, and overseas forms a robust foundation for its operations. In addition to its diverse assets in the Philippines, DoubleDragon has organically developed the Hotel101 brand, which is not only portable but also exportable to various continents.
The forthcoming global listing of Hotel101 in the US is expected to further fortify DoubleDragon’s financial position. Recent financial reports indicate strong growth, with Consolidated Net Income increasing by +23.25% year-on-year to ₱15.93 Billion in 2023, and Consolidated Revenues reaching ₱24.74 Billion for the same period.
Total Assets grew by +15.59% year-on-year to ₱181.24 Billion as of December 31, 2023, while Total Equity increased by +15.88% year-on-year to ₱94.57 Billion. With a Debt-to-Equity ratio of 0.64x, DoubleDragon maintains a healthy financial profile.
Within a span of less than a decade, DoubleDragon has completed over 1.3 million square meters of diversified asset portfolio, including community malls, office buildings, hotels, and warehouse complexes across the Philippines. Notably, DoubleDragon operates modern community malls even in remote areas, fostering economic growth in provincial regions.
The nationwide portfolio of titled hard assets strategically located in Luzon, Visayas, and Mindanao is projected to reach full maturity by 2025. Hotel101, with its asset-light business model, is poised to emerge as a major export brand, contributing significantly to the inflow of US Dollars to the Philippines while enhancing the global perception of Filipino hospitality.
DoubleDragon Corporation’s principal shareholders include Injap Investments Inc, led by Mang Inasal Founder Edgar Injap Sia II, and Honeystar Holdings Corp, led by Jollibee Founder Tony Tan Caktiong.
Chairman Edgar “Injap” Sia II expresses gratitude for the collective efforts that have propelled DoubleDragon’s success, underscoring the Philippines’ dynamic entrepreneurial landscape that fosters growth and innovation. He emphasizes the importance of nurturing a continuous flow of new players in the economy to ensure robust and sustainable growth towards a First World Philippines.
