Hotel 101 Global pushing through with planned US listing

Hotel101 Global Pte.Ltd., the Singapore-headquartered subsidiary of DoubleDragon Corp., is set to push through with its planned listing in the United States before the end of the year.

- RICHMOND MERCURIO

DoubleDragon said Hotel101 Global is currently in the process toward its US listing, which is expected to take place in the fourth quarter.

Hotel101 Global will become the first Filipino company to list in the US via a special purpose acquisition company.

Last April, Hotel101 Global entered into a binding definitive merger agreement with JVSPAC Acquisition Corp., with the combined entity to list on the US NASDAQ under the ticker symbol "HBNB." Hotel101 Global and affiliates will have an equity value of $2.3 billion, or about P130 billion, following completion of the merger transaction.

DoubleDragon has organically developed a novel asset-light concept and highly unique business model in Hotel101.

Hotel101's asset-light concept allows the company to generate revenue and income twice, first from the pre-selling of the condotel units, then second after the project is constructed it generates long term recurring revenue from the enrolled units in operating the hotel.