This milestone is expected to further materially increase the unit sales revenue of Hotel101 Global to unit buyers from various parts of the world
• Hotel101 Global announces the completion of important milestone for the release of the first batch of Golden Visasto the first batch of Hotel101-Madrid unit owners in just 6 months and 16 days from their purchase of Hotel101- Madrid units.
• Hotel101 Global expects to complete and fully sell out all its units in Madrid, Spain and Niseko Hokkaido, Japan ahead of schedule
• DoubleDragon happens to be one of the very few Philippine companies that has not only positioned a diversified hard asset portfolio spread out across the Philippines, but it also happens to be one of the very few that has organically developed a novel asset-light concept and highly unique business model in Hotel101 (HBnB) that is portable and exportable to other continents globally. The global expansion of Hotel101 is expected to eventually become one of the major US Dollar inflow generators to the Philippines.
• Hotel101 Global is currently in the process towards its US Listing expected in Q4 2024.
Hotel101 Global proudly announces a significant achievement with the issuance of the first batch of Spanish Investor Visas, also known as “Golden Visas,” to the inaugural unit owners of Hotel101-Madrid. This milestone was reached just 6 months and 16 days after the purchase of their units.
The Golden Visa, officially referred to as the Spain Investor Visa, is a residence permit granted to non-European citizens who make a substantial investment in Spain, such as acquiring real estate valued at €500,000. To meet the investment requirements, applicants must purchase three Hotel101-Madrid units.
The Hotel101 business model offers a unique solution for both the host country and Golden Visa applicants. Investing in a Hotel101 unit does not negatively impact local housing inventory, while also relieving investors from the responsibilities of managing a property abroad.
“It will be optional for Hotel101 unit buyers to apply for a Golden Visa with their purchase. Importantly, the new units we are constructing will not diminish the existing housing stock in Spain. Instead, this initiative will boost economic activity through land purchases, job creation during construction, and ongoing tax revenues from the project. We are excited about this long-term business opportunity, which reflects the deep cultural ties between Spain and the Philippines, benefiting both nations,” said DoubleDragon Chairman Edgar “Injap” Sia II.
DoubleDragon stands out as one of the few Philippine companies with a diverse portfolio of hard assets across the country and a unique, exportable business model with Hotel101 (HBnB). The global expansion of Hotel101 is anticipated to become a significant source of US dollar inflow into the Philippines.
Golden Visa applications are subject to evaluation and approval by the Spanish government authorities. However, purchasing Hotel101 units allows foreign buyers to meet the €500,000 real estate investment requirement.
“We have witnessed remarkable interest in our Hotel101 projects worldwide. Hotel101 Madrid has excelled not only because it qualifies for the Golden Visa program but also offers retail real estate investors an opportunity to engage in the thriving hotel industry in Madrid. We have also seen an increasing number of local Spanish investors acquiring Hotel101 units, driven by confidence in the potential revenue the project will generate upon completion,” stated Hotel101 Global CEO Hannah Yulo-Luccini.
Construction of Hotel101-Madrid is being managed by Ferrovial Construcción, one of Spain’s largest construction firms. The 680-room hotel is expected to be completed by the end of 2025, coinciding with the inaugural Formula 1 Grand Prix race to be held nearby.
Strategically located on a 6,593 square-meter commercial property along Avenida Fuerzas Armadas in Valdebebas, Madrid, Hotel101-Madrid is in close proximity to key landmarks, including the Valdebebas Train Station, the IFEMA convention complex, the Real Madrid Sports Complex, and Madrid Barajas International Airport.
As a subsidiary of DoubleDragon Corporation, Hotel101 Global is also on track for a US listing expected in Q4 2024.
