Hotel101 closes deal for Spain expansion

Philippine Tribune
Philippine Tribune

Iris Gonzales – The Philippine Star

November 1, 2023 | 12:00am

Hotel101-Madrid Spain is expected to be completed in the fourth quarter of 2025, with an estimated condotel sales revenue of P8.8 billion.

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MANILA, Philippines — DoubleDragon’s hospitality unit Hotel101 Global has moved a step closer to completing its expansion in Spain following the close of its land deal for Hotel101-Madrid Spain.

Hotel101-Madrid Spain is expected to be completed in the fourth quarter of 2025, with an estimated condotel sales revenue of P8.8 billion.

The company has received the land purchase documents and has made the full payment for the 6,593-square-meter prime commercial land in Madrid, DoubleDragon said in a disclosure yesterday.

The site is on Avenida Fuerzas Armadas, which is surrounded by major landmark buildings. It is about a three-minute walk to the Valdebebas Train Station and around seven minutes to the new Madrid Barajas International Airport.

Buyers can also avail themselves of Spain’s Golden Visa with the purchase of Hotel101 units.

Hotel101-Madrid is one of the initial three global expansion projects of Hotel101 Global Pte. Ltd., after Hotel101-Niseko in Hokkaido, Japan and Hotel101-California in the United States.

The goal is to be in these first 25 countries by 2026: the Philippines, Japan, Spain, US, 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, Hotel101 Global said.

Hotel101 Global has officially opened and commenced operations of its Global Corporate Office and Global Sales Hub in Singapore.

“If there is one hotel chain that can optimize the use of modern technology in the global hospitality space, we believe it will be Hotel101, given its pioneering standardized signature 21-square-meter HappyRooms and asset-light concept globally,” said DoubleDragon chairman Edgar Injap Sia II.

“Eventually, when you stay in any Hotel101, no matter what country you are in, for the first time you will know exactly what to expect,” he said.

Hotel101’s pioneering hybrid condotel business model uses just one type of room unit across its global ecosystem, making it easier and more efficient to build and operate.

The portable Hotel101 concept also allows it to expand and create a uniform worldwide inventory through direct development, joint venture and licensing, Sia said.

“Hotel101’s asset-light concept allows DoubleDragon 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,” Sia said.

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