The Singapore-headquartered hotelier plans to expand to 25 countries by 2026, including destinations in Southeast Asia, East Asia, the Middle East and Europe.
Hotel chain Hotel101 Global, a subsidiary of Philippine real estate company DoubleDragon, plans to list on the Nasdaq stock exchange in New York in the second half of this year.The subsidiary’s CEO Hannah Yulo-Luccini said the hotelier prides itself as a tech-driven hospitality platform and the listing will help accelerate its global expansion plans.
It is merging with Hong Kong-based special purpose acquisition firm JVSPAC Acquisition Corp for the listing. Currently, it operates two hotels in the Philippines, and has three projects under development in Japan’s Niseko, Spain’s Madrid, and Los Angeles in the United States. Ms Yulo-Luccini said the model is in short supply in the industry and Hotel101 aims to lean into that demand.
She said the brand’s projects are seeing high demand, particularly in Niseko. An extension of the high-speed Shinkansen bullet train that is in the works to connect the Hokkaido town has driven property prices up in the past few years. Ms Yulo-Luccini said that the brand’s success during the pandemic years led to the decision to expand overseas and list in New York.
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