Philippine-listed DoubleDragon Properties Corp seeks to raise as much as $125 million from foreign venture capital investors to finance the expansion of Hotel101.
In a disclosure, DoubleDragon said its board has approved the process for a $125-million Series A and Series B offshore equity capital issuances for its Singapore-registered subsidiary Hotel101 Global.
Hotel101 Global will primarily hold all international investments of Hotel101 outside the Philippines. It will also be the future overseas IPO vehicle for DoubleDragon’s international expansion of Hotel101.
Hotel101 eyes to be one of the top 10 hotel brans in the world by 2035, with a cumulative key of 200,000.
The first Series A tranche of Hotel101 Global Pte Ltd Series A is set to launch in January 2023 with a series of investor calls with offshore venture capital institutions.
Hotel101 rooms globally are generally uniform in size and caters to the mid-end market, enabling a highly efficient booking process allowing guests to know exactly what to expect in a Hotel 101 wherever it may be located.
The concept patent of Hotel 101’s pioneering condotel concept has already been filed and the Hotel 101 trademark and country specific domains have been secured in various countries globally.
The Hotel 101 Global App for both Apple iOS and Android that is designed to efficiently work in multi countries is set to be launched this coming February 2023.
Hotel 101 adopts dynamic pricing on its room rates similar to airline tickets where its room price moves up and down depending on the real time supply and demand on the chosen date of booking.
The Asset Light Hotel 101 concept allows DoubleDragon to generate revenue and income twice, first from the pre-selling of the Happy Rooms, then second after the project is constructed it generates long term recurring revenue from hotel operations.
The first overseas Hotel 101-Niseko with about 518 rooms is expected to generate $137.3 Million in hybrid condotel pre-selling sales revenue starting the first quarter of 2023.
DoubleDragon envisions the homegrown Filipino Hotel 101 brand to become world-class in all standards and create job opportunities for Filipinos who reside in the Philippines or abroad, and also aims to bring a pinch of pride and honor to each and every Filipino from anywhere around the world where it may eventually locate and operate.
In the Philippines, DoubleDragon Corporation is one of the very few companies that has a brand and concept that is exportable globally, and a business model that has a high chance to transcend as a successful mainstream global business. – HotelNewsAsia.com
