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Richmond Mercurio - The Philippine Star
April 1, 2026 | 12:00am
These will consist of 680 rooms in Spain, 519 rooms in Davao, 548 rooms in Cebu and 482 rooms in Japan.
STAR / File
MANILA, Philippines — DoubleDragon Corp., the property development co-venture between tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, is embarking on its highest number of room openings in a year this 2026, with a total of 2,229 hotel rooms slated to be operational.
These will consist of 680 rooms in Spain, 519 rooms in Davao, 548 rooms in Cebu and 482 rooms in Japan.
Hotel101 Global Holdings Corp., the Nasdaq-listed subsidiary of DoubleDragon, officially opened on March 10 its first European project, the 680-room Hotel101-Madrid in Spain.
Hotel101 Global said Hotel101-Madrid has exceeded the company’s expectation in terms of its operating and occupancy performance.
“Hotel101-Madrid is expected to fully mature in terms of above-industry occupancy level, in time for the maiden Formula 1 Grand Prix in Madrid, Spain this coming September 2026,” the company said.
The hotel has been designated as an official hotel partner for the Formula 1 Spanish Grand Prix, following a 10-year agreement with MATCH Hospitality, the official hospitality provider for the Spanish Grand Prix.
Hotel101 Global said these milestones form a key part of its vision to establish and operate one million typical Hotel101 rooms across 100 countries.
The company said it has also taken the next step for its planned $300 million Series A perpetual preferred share offering in the US.
The approximately P18-billion capital raising initiative is the second major step of Hotel101 Global in tapping the US capital market since making history in June last year by becoming the first Filipino-owned company to be listed and traded on the US Nasdaq.
Proceeds of the proposed equity transaction will be used to fuel the company’s strategic expansion of Hotel101 projects worldwide.
The DoubleDragon Group continues to tap the capital markets in the Philippines and the US to further boost its balance sheet toward its goal of increasing its total equity base to P500 billion.
