Construction of the 680-room Hotel101-Madrid is progressing as scheduled, following its groundbreaking in March 2024.
DoubleDragon Properties Corp., the developer behind the project, has reported strong cash inflows from unit buyers, surpassing the company’s expectations. This marks a significant milestone for DoubleDragon, with over $10 million USD in foreign currency cash payments received from retail buyers, primarily during the second quarter of 2024.
The robust sales performance underscores the growing interest in Hotel101-Madrid. Given the positive trajectory of its overseas projects, DoubleDragon anticipates capturing over $100 million USD (approximately 5.8 billion pesos) in contracted unit sales over the next 12 months.
The construction of Hotel101-Madrid is being undertaken by Ferrovial Construcción, one of Spain’s largest construction companies.
The project is on track for completion by the fourth quarter of 2025, just in time for the start of the Madrid F1 Grand Prix, which will be located right beside the property.
Hotel101-Madrid 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 in Valdebebas.
The hotel’s strategic location offers convenient access to several key landmarks: a three-minute walk to the Valdebebas Train Station, a four-minute walk to the IFEMA convention complex, a five-minute walk to the Real Madrid Sports Complex, and about seven minutes to the new Madrid Barajas International Airport.
“We are thrilled with the progress and the strong market response to Hotel101-Madrid,” said DoubleDragon’s Chairman, Edgar Sia II. “The substantial cash inflows and rapid construction progress highlight the project’s potential and our commitment to expanding our international footprint.”
The Hotel101-Madrid project is expected to draw significant interest from both business and leisure travelers, thanks to its prime location and extensive amenities. As construction continues, DoubleDragon remains focused on meeting its timelines and delivering a high-quality hospitality experience.
