Hotel of Asia, a subsidiary of DoubleDragon Properties Corp., recently signed a joint venture agreement with Davao- based W2JP2 Corp. to build Hotel 101 – Davao City in a 5,300 sqm. prime commercial lot located at Eco West Drive at the side of SM City – Davao.
Hotel 101 – Davao will be the largest hotel in Mindanao with 519 hotel rooms, a commercial and retail strip, and facilities to cater convention. The project is scheduled to start construction on the last quarter of this year with target completion by 2020.
Hotel 101 – Davao is an addition to Hotel 101 – Manila near Mall of Asia, and Hotel 101 – Fort which is already under construction. The hotel brand aims to have a total of 5,000 hotel room portfolio by 2020.
DoubleDragon has recently upgraded its 2020 goal to achieve 1.2 million square meters of leasable space with a mix of office leasing, community mall retail leasing, industrial leasing and hotels.
“We envision Hotel 101 to become the largest and most recognized hotel chain in the Philippines, significantly contributing to the recurring income of DoubleDragon, and at the same time providing the market with an innovative, safe and secure investment platform,” said DoubleDragon Chairman Edgar Injap Sia II.