The NASDAQ Stock Exchange congratulated on Monday Hotel101 Global Pte. Ltd. (“Hotel101 Global”), the Singapore-registered subsidiary of DoubleDragon Corporation (“DoubleDragon”) for its expansion to the U.S.A., as it sealed agreements for the Hotel101-Los Angeles California site.
The iconic seven-stories-tall NASDAQ Tower showed the Hotel101 Global logo and the message “NASDAQ congratulates Hotel101 Global on its expansion to the U.S.A. as Hotel101 seals agreement for Los Angeles California Site”.
“Hotel101 Global is currently engaged with select SPAC targets and intends to sign a business combination agreement very soon. The SPAC route is one of Hotel101 Global’s options to accelerate the expansion of Hotel101 globally a well as the timetable of its previously announced plans to IPO Hotel101 Global on the US NASDAQ Stock Market,” said Hotel101 Global CEO Hannah Yulo-Luccini.
“We believe DoubleDragon’s Hotel101 is a truly pioneering asset light business model, which as far as we know, has never been done in any part of the world before,” said DoubleDragon Chairman Edgar “Injap” Sia II.
The concept patent application of Hotel101’s pioneering condotel concept has already been filed and the Hotel101 trademark and country specific domains have been secured in various countries globally.
As previously disclosed, Hotel101 Global is expected to derive over 95% of its revenues outside of the Philippines to be consolidated back to the ultimate parent, Philippine-listed DoubleDragon Corporation. DoubleDragon targets for Hotel101 Global to reach a valuation of up to US$17 Billion in the near term based on Hotel101’s internal financial projections.
Hotel101 is expected to become known as one of the most technologically advanced hotel chains across all parts of its value chain. The next version of the Hotel101 App is set to integrate the fully automated self-check-in system with IOT (internet of things) capabilities.
The first three overseas Hotel101 projects will be in Niseko Hokkaido Japan, Madrid Spain,and California USA. These first three overseas sites will serve as bridge projects to jumpstart the transition of Hotel101 to transcend beyond these first three countries and become a global brand with a truly unique business concept that can be planted in over 100 countries.
Target near term expansion roadmap for Hotel101 Global Pte. Ltd. is to be in these first 25 countries by 2026 namely: Philippines, Japan, Spain, USA, United Kingdom, UAE, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France and China.