DoubleDragon’s subsidiary, Hotel101 Global, has acquired 6,593 square meters of prime commercial land in Madrid, Spain. This acquisition marks the development of Hotel101-Madrid, the first Hotel101 project in Europe. The hotel is expected to have approximately 736 rooms, making it one of the top five largest hotels in Madrid.
Hotel101-Madrid will also be the first homegrown Filipino hotel chain to enter Spain. The project is anticipated to generate robust condotel sales revenue of about €143.3 million Euros (₱8.8 billion Pesos), driven by the high demand for real estate investment in Madrid, particularly due to the Spanish Golden Visa program.
The hotel will be situated in a prime location in Valdebebas, surrounded by major landmarks. It will be a short walk from the Valdebebas Train Station, the IFEMA convention complex, the Real Madrid Sports Complex, and the new Madrid Barajas International Airport.
Hotel101-Madrid will offer the usual amenities found in Hotel101 developments, including an All Day Dining restaurant, a Business Center, a Swimming Pool, a Fitness Gym, and commercial space for a 24-hour convenience store.
Hotel101 Global, a subsidiary of DoubleDragon Corporation based in Singapore, aims to become a world-class hotel brand and create job opportunities for Filipinos both in the Philippines and abroad. The company plans to list Hotel101 Global on the NASDAQ stock exchange, as it expects to generate over 95% of its revenues outside the Philippines.
The subsidiary envisions expanding its presence to over 100 countries. The first three overseas projects will be located in Niseko Hokkaido, Japan; Madrid, Spain; and California, USA. These initial projects will serve as stepping stones for Hotel101’s global expansion.
The company’s unique business model aims to standardize the affordable 3-star hotel segment globally. Hotel101 Global plans to integrate advanced technology, such as a fully automated self-check-in system with IoT capabilities, into its operations. Chairman Edgar Injap Sia II envisions Hotel101 Global becoming one of the top five hotel brands globally, operating over 500,000 uniform rooms in 100 countries by 2040.
