DoubleDragon Corporation proudly announces that its subsidiary, Hotel101-Global, has officially filed its F-4 Registration Statement on February 1, 2025 (Philippine time) / January 31, 2025 (New York time).
This milestone marks a major step forward in its journey toward a landmark US$2.3 billion (₱130 billion) U.S. NASDAQ listing. The filing follows months of extensive preparation and strict compliance with the U.S. Securities and Exchange Commission (SEC) and NASDAQ’s registration and listing requirements.
Once listed, DoubleDragon will make history as the first Filipino company to have a subsidiary, Hotel101-Global, publicly traded on the U.S. NASDAQ stock exchange under the ticker symbol HBNB.
DoubleDragon expects 2025 to be a game-changing year, marking its most significant financial milestone since the company was founded in 2012 as a joint venture between Edgar “Injap” Sia II and Tony Tan Caktiong.
This year, the company is set to achieve its largest-ever equity expansion, fueled by multiple strategic capital initiatives. With the anticipated Hotel101-Global U.S. equity listing and follow-on offering, alongside the CentralHub REIT listing, DoubleDragon projects a total capital infusion of ₱51.3 billion in fresh equity.
HOTEL101 GLOBAL SIGNS DEFINITIVE MERGER AGREEMENT WITH JVSPAC ACQUISITION CORPORATION TO PUBLICLY LIST ON THE NASDAQ
HOTEL101 IS EXPECTED TO HAVE AN EQUITY VALUE OF OVER US$2.3 BILLION (₱130 BILLION PESOS) FOLLOWING COMPLETION OF THE TRANSACTION
UPON COMPLETION OF THE PROPOSED BUSINESS COMBINATION TRANSACTION, THE COMBINED ENTITY IS EXPECTED TO BE PUBLICLY LISTED ON THE NASDAQ UNDER THE TICKER SYMBOL “HBNB”
(Please see below details about the Hotel101-Global U.S. NASDAQ Listing as disclosed last April 8, 2024)
Hong Kong, April 8, 2024 – Hotel101 Global Pte. Ltd., the Singapore-based subsidiary of Philippine-listed DoubleDragon Corporation, has entered into a definitive merger agreement with JVSPAC Acquisition Corporation (Nasdaq: JVSA). This strategic move paves the way for Hotel101’s public listing on the NASDAQ stock exchange under the ticker symbol HBNB, positioning it as a majority-owned subsidiary of DoubleDragon and strengthening the company’s capital base.
Hotel101, a pioneering hotel prop-tech operator, is redefining the hospitality industry with its globally standardized, asset-light “condotel” business model. Following the completion of the transaction—expected in the second half of 2024, subject to regulatory and shareholder approvals—Hotel101 is projected to have an equity value exceeding US$2.3 billion.
A Milestone for the Philippine Hospitality Industry
With this move, Hotel101-Global is set to become the first-ever Filipino majority-owned subsidiary to go public via SPAC (Special Purpose Acquisition Company) on NASDAQ. More than just a listing, this expansion represents a major brand and business model export from the Philippines, introducing an asset-light approach that could generate substantial U.S. dollar inflows for the country.
Revolutionizing the Hotel Industry
Hotel101 is disrupting traditional hospitality with a “one-room” global standard, ensuring identical, high-quality accommodations worldwide. Its streamlined model offers efficiency, simplicity, and unmatched scalability, making it easier to expand through direct development, joint ventures, and licensing.
Unlike short-term rental platforms, where properties vary in quality and consistency, Hotel101’s units are purpose-built hospitality assets owned by individual condominium unit investors. This model ensures standardized amenities, greater security, and seamless guest experiences, while also providing a stable, long-term revenue stream for unit owners.
The company’s proprietary app employs dynamic pricing, optimizes booking experiences, and features self-check-in—all designed to enhance customer convenience.
Leadership Insights on Global Expansion
Hannah Yulo-Luccini, CEO of Hotel101, emphasized the strength of the company’s asset-light model, saying:
“Hotel101 generates revenue in two ways: first, through the pre-sale of individually titled hotel units during construction; and second, through the long-term, recurring income from daily hotel operations after project completion. Building on our success in the Philippines and our expansion into Japan, Spain, and the U.S., a NASDAQ listing will provide us with access to public capital markets, accelerating our global growth.”
Edgar “Injap” Sia II, Chairman and CEO of DoubleDragon and Founder of Hotel101, expressed confidence in the brand’s global potential:
“With its unique concept, Hotel101 is well-positioned for international success. Standardizing hotel rooms worldwide ensures that guests know exactly what to expect, no matter where they stay. This formula is designed to create lasting value for consumers and elevate the brand on a global scale.”
Albert Wong, Chairman of JVSPAC Acquisition Corporation, highlighted the significance of the merger:
“This marks a major milestone as we partner with Hotel101 to introduce a truly innovative business model to public capital markets. Hotel101’s unique approach, combined with the track record of its founders, is set to disrupt the hospitality industry. We are honored to support their journey toward long-term success.”
Expanding Globally: A Bold Vision for the Future
By developing large-scale properties—up to five times the size of traditional 3-star hotels—Hotel101 provides premium amenities beyond what is typically offered in the value segment. Guests can expect in-room kitchenettes, pools, gyms, business centers, all-day dining, function rooms, 24/7 front desks, and children’s play areas.
Hotel101 has already broken ground in Madrid, Spain, with a 680-room development near IFEMA Convention Complex, the Real Madrid Complex, and the future Formula 1 Grand Prix Track. In Japan, Hotel101-Niseko (482 rooms) is under construction, while a site in Los Angeles, California, has been secured for its U.S. debut.
The company’s long-term goal is to operate one million rooms across 100 countries, with initial expansion focused on 25 priority markets, including the Philippines, Japan, Spain, the U.S., U.K., UAE, India, China, Thailand, Malaysia, Vietnam, Indonesia, Singapore, Mexico, South Korea, Australia, Canada, and key European countries.
With its groundbreaking approach and aggressive expansion plans, Hotel101 is poised to redefine the global hospitality landscape—one standardized hotel room at a time.
