This marks a significant step forward as it moves closer towards its upcoming US$2.3 Billion (Php130 Billion) U.S. NASDAQ listing, following months of rigorous preparation and compliance with the U.S. Securities and Exchange Commission (SEC) and NASDAQ’s registration and listing requirements. 

With this milestone, DoubleDragon Corporation is on track to make history as the first-ever Filipino company to have a subsidiary, Hotel101 Global, listed and traded on the U.S. NASDAQ stock exchange under the ticker symbol HBNB. 

DoubleDragon expects that 2025 will be the most significant year since the DoubleDragon joint venture between Edgar Injap Sia II and Tony Tan Caktiong came to life 13 years ago in 2012.

This year, in 2025, DoubleDragon is poised to generate the largest equity increase in its history, driven by multiple strategic capital initiatives in the pipeline, with the upcoming Hotel101-Global US equity listing and equity follow-on, and the CentralHub REIT listing, are expected to generate a combined ₱51.3 billion in fresh equity capital. 

Meanwhile, the Singapore-headquartered subsidiary of Philippine-listed investment company DoubleDragon Corporation, Hotel101 Global Pte. Ltd. and affiliates (“HOTEL101″ or “HBNB”) and JVSPAC Acquisition Corporation (Nasdaq: JVSA) (“JVSPAC”) announced today that they have entered into a definitive merger agreement. Hotel101 is a hotel prop-tech operator pioneering a globally standardized, asset-light “condotel” business model. Upon completion of the proposed business combination transaction, the combined entity is expected to be publicly listed on the NASDAQ under the ticker symbol “HBNB.”  And to become a majority-owned subsidiary of DoubleDragon Group, and the fresh equity to increase its capital base, and to further strengthen the balance sheet of DoubleDragon Corporation. 

Hotel101 is expected to have an equity value of over US$2.3 billion following completion of the transaction, which is expected to close during the second half of 2024 subject to regulatory and shareholder approvals and other customary closing conditions. 

DoubleDragon positions Hotel101 Global to very soon become the first ever Filipino company whose majority-owned subsidiary to list via SPAC in the US Nasdaq Stock Exchange, and seen to become a major brand, concept and business model export of the Philippines, given its Asset-Light business model could become one of the major source of US Dollar inflow to the Philippines. 

Management believes that Hotel101 is a global “one room” hotel chain poised to disrupt the tourism industry by oJering identical, standardized hotel rooms around the world, creating what management believes to be unbeatable eJiciency, simplicity, and value. Management believes Hotel101s are eJicient to build, maintain, and operate – as well as to scale and expand through direct development, joint venture partnerships, and licensing. 

Management believes that the Hotel101 platform is unlike anything available in any part of the world today: while it is similar to other short-term rental platforms because its inventory is generally owned by third-party individual condominium unit owners who can opt to list their unit on the Hotel101 platform, it is able to deliver consistency, security, and predictability for its guests, as well as arguably higher acceptance in the communities where it operates as all Hotel101 properties are purposely built as hospitality assets. The global opportunity that management sees in the hospitality space is that of standardization, which management believes brings unbeatable eJiciency, especially for the value segment. In addition, Hotel101’s proprietary app adopts dynamic pricing for its room rates and is planned to oJer self-check in, simplified by the availability of just one type of room. 

Hannah Yulo-Luccini, CEO of Hotel101, said: “Hotel101’s asset-light business model allows us to generate revenues twice: first from the pre-selling of strata-titled individual hotel units during the construction phase; and second, from the long- term recurring revenue derived from day-to-day hotel operations following completion of the units. Building on the success of our business model in the Philippines – where we have several operating properties and a number under development – and our ongoing international expansion to Japan, Spain, and the U.S., we believe that a NASDAQ listing will provide Hotel101 with access to public capital markets and help accelerate our global expansion plans.” 

Edgar “Injap” Sia II, Chairman and CEO of DoubleDragon Corporation and Founder of Hotel101, said: “With its unique and novel concept, we believe Hotel101 has significant potential to successfully expand globally. We expect this to have a network eJect that will further elevate the brand and benefit 

all stakeholders within its ecosystem. The standardization of a Hotel101 room globally means that a customer knows exactly what to expect wherever they may be in the world. Management also expects this formula to result in creating sustained value for consumers globally.” 

Albert Wong, Chairman, JVSPAC Acquisition Corporation, said: “Today marks a significant milestone towards the successful completion of the business combination between JVSPAC and Hotel101. We sought out a partner that aligns with our vision and are confident that this merger will position us for long-term success. We are pleased to work with Hotel101 and believe its unique business model and the track record of its founders will be a disruptive force in the hospitality industry. We are honored to be part of their journey and be the ones introducing their business to the public capital markets.” 

By building properties at scale – what management believes to be roughly five times the size of other branded 3-star hotel chains – Hotel101 can oJer its guests amenities that go well beyond what management believes to be the typical oJering in the value segment. These amenities usually include in-room kitchenettes, pools, gyms, business centers, all-day dining, function rooms, 24/7 front desks, and children’s playgrounds – features that other mid-tier players do not typically provide. 

Outside of the Philippines, Hotel101 has broken ground in Madrid, Spain to construct a 680-room property located in the Valdebebas area beside IFEMA Convention Complex, the Real Madrid Complex and the upcoming new F1 Grand Prix Track. Another 482-room property, Hotel101-Niseko, is under construction in Hokkaido, Japan; and a site has been secured in Los Angeles, California to build the first Hotel101 in the U.S. 

Hotel101’s long term vision is to have one million rooms, operating in over 100 countries worldwide. As a first step, Hotel101 has identified the first 25 priority countries for expansion: the Philippines, Japan, Spain, the U.S., United Kingdom, the U.A.E., India, China, Thailand, Malaysia, Vietnam, Indonesia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France, and Saudi Arabia. 

Kamita Sekkei and Technocrew bring expertise with strong portfolios that include work for Hokkaido University, the City of Sapporo, and the City of Obihiro, among others. Under the skilled construction of Iwata Chizaki Inc., known for the iconic Chitose International Airport, Hotel101-Niseko is poised to become a beacon of sustainable development. This partnership aligns closely with the values laid out in the recently signed pact, which outlines a commitment to environmentally responsible practices and the integration of smart systems to enhance efficiency. The structure of Hotel101-Niseko is designed to promote sustainability through green-inspired architecture and the use of technology that supports efficient and eco-friendly operations.

“We believe that sustainability is a core aspect of the Hotel101 brand which will enable it to thrive in a rapidly changing world. By integrating a sustainable mindset in the way that we build our hotels as well as sustainable practices in our day-to-day hotel operations, we protect the environment, appeal to the new generation of eco-conscious guests, and reduce operational costs which helps ensure the long-term viability of Hotel101,” said Hotel101 Global CEO Hannah Yulo-Luccini.

“In extraordinary environments such as the height of winter in Hokkaido, it is not an easy endeavor to achieve a green rating and we are proud to announce that Hotel101-Niseko is set to be the first CASBEE rated hotel in Niseko,” added Ms. Yulo-Luccini.

Achieving a CASBEE rating underlines Hotel101-Niseko’s role as a leading example of green hospitality solutions, showcasing its success in integrating environmental considerations into every facet of its architecture and operations. Located on a 1.17-hectare site in Niseko-Hirafu, Hokkaido Prefecture, Hotel101-Niseko is positioned amid the region’s natural scenery, chosen for its commitment to environmental preservation. Hotel101 Global aims to provide an eco-friendly hospitality experience that aligns with the environmental values of guests and meets the rigorous sustainability standards set by the local community.

“With the upcoming Bullet Train to go straight from Tokyo to Niseko, we see the 482 room Hotel101-Niseko project which is set to be one of the largest hotels in Niseko to soon become the top of mind hotel destination for both the local domestic Japanese and overseas tourists visiting Niseko, Hokkaido Japan.” said DoubleDragon Chairman Edgar Injap Sia II.

“We see Hotel101 Global to be known globally as one of the most eco-friendly hotels globally,” added Edgar Injap Sia II.

DragonFi Securities Inc. is revolutionizing the landscape of investment in the Philippines with the official launch of DragonFi 2.0, a groundbreaking mobile investing app.

Leveraging the latest in technology, it is poised to become the investment super app of the Philippines. This platform democratizes investing, empowering users of all backgrounds to confidently begin their financial journey.

Tech Highlights of the DragonFi Mobile App:

• All Your Investments in One Place: Manage a diverse portfolio ranging from Philippine stocks to global funds through a single, intuitive platform.
• Creators Circle: A pioneering feature that connects users with leading financial literacy creators, providing content that demystifies investing and personal finance.
• Stay Informed, Stay Ahead: From news to disclosures, to fundamental and technical data, the new DragonFi app is here to help you become a more informed investor.
• Investing Club: Follow the DragonFi Research Team and learn as it manages a dividend growth portfolio.

Empowering Financial Freedom for Every Filipino

Mr. Edgar Sia II, Co-Founder of DragonFi, shares his broader vision: “Introducing a new mobile app goes beyond business for us; it’s about contributing to a financially literate, empowered, and independent society. We believe that by making investing easy and accessible, we are paving the way for a brighter financial future for every Filipino. This is the essence of what we strive for at DragonFi – to be a catalyst for change and growth in our society.”

Enriching World of Investing

On Reimagining the Future of Investing, Jon Carlo Lim, CEO and Co-Founder of DragonFi, articulates the purpose behind the new app: “The introduction of our new mobile investing app signifies a pivotal step forward in our quest to democratize investing in the Philippines. Our app is designed to bridge the gap between complex investment concepts and the everyday investor, making the world of investing not just accessible but also enriching for all.“

Jon Carlo Lim is a University of Chicago Booth School of Business alum, has over two decades of financial market expertise, consistently delivering above-benchmark returns with his investment strategies.

The Technological Edge

Cathryn Ann Lao, CTO and Co-Founder of DragonFi, elaborates on the technological advancements integrated into the app: “Leveraging the latest in technology, we’ve reengineered our app to offer an unparalleled investing experience tailored to the preferences and behaviors of our users. From biometrics authentication to an intuitive design, our technology is what sets us apart. It’s what makes investing with DragonFi not just safer and smarter, but also a seamless part of the daily lives of our users.”

Inclusive Investment Opportunities for All

With account openings starting as low as ₱1000, DragonFi promotes investing inclusivity, welcoming individuals from all financial backgrounds to participate in wealth creation.

As DoubleDragon continues its local and global expansion, its standing reputation as a publicly listed company is recognized and hailed by the Philippine Stock Exchange.

During the recognition which was held on April 11, 2024, and marked DoubleDragon’s 10th-year anniversary in listing in a bell ringing ceremony at the PSE Tower, DoubleDragon Chairman Edgar Injap Sia II and DoubleDragon Corporation Co-Chair Tony Tan Caktiong proudly received the commendation from PSE President and CEO Mr. Ramon S. Monzon.

Interestingly, DoubleDragon just recently signed a $2.3-B merger deal with SPAC and strengthen its global footprint as one of the few Philippine companies listed Nasdaq and provide opportunities for overseas investors to buy stocks.

The groundbreaking in Madrid is marked with two milestone activities on the same day, March 13, 2024, as it conducts its groundbreaking ceremony and signs the construction contract with Ferrovial Construction at Valdebebas, Madrid, Spain.

Graced by the Minister of Economy, Finance and Employment of the Region of Madrid, Spain Rocio Albert Lopez-Ibor, and the Philippine Ambassador to Spain Philippe J. Lhuillier.

Both activities of Hotel101-Madrid were led by DoubleDragon Chairman Edgar Injap Sia II, Hotel101 CEO Hannah Yulo-Luccini, and DoubleDragon Co-Chairman Tony Tan Caktiong.

The milestone event was also graced by the officers of Ferrovial Construction Group represented by Juan Luis Junguito Oppelt – Director Region Centro of Ferrovial, Belen Marquina Susin – Directoria Edificacion Madrid of Ferrovial, Manuel Angel Sanz Pecharroman – Jefe de Grupo de Obras of Ferrovial, and Equicom Group Chairman Antonio L. Go.

Ferrovial, one of the largest construction companies in Spain, is set to commence full swing construction of Hotel101-Madrid this April 2024. It is scheduled to be fully completed by Q4 2025, opening just in time for the start of the Madrid F1 Grand Prix, which happens to be located right beside Hotel101-Madrid.

The 680-room Hotel101-Madrid project set to become one of the top 5 largest hotels in Madrid, Spain, and is located in a 6,593 square-meter prime commercial property recently purchased by Hotel101 located along Avenida Fuerzas Armadas, Valdebebas, Madrid which is surrounded by major landmark buildings and is about 3 minutes walk to the Valdebebas Train Station, 4 minutes walk to IFEMA convention complex, 5 minutes walk to Real Madrid Sports Complex, and around 7 minutes to the new Madrid Barajas International Airport.

Why HBNB? See below:

DoubleDragon’s subsidiary Hotel101 Global Pte Ltd has officially reserved the Nasdaq stock exchange ticker symbol “HBNB”.

This step is in line towards Hotel101 Global’s previously announced SPAC listing preparations and given the latest progress, Hotel101 Global expects to sign with its chosen SPAC sponsor the Definitive SPAC Business Combination Merger Agreement by next month in March 2024, to be followed by the official filing of its prospectus subject to the US regulatory approvals.

DoubleDragon expects Hotel101 Global to very soon become the very first Filipino company to list via SPAC in the US Nasdaq Stock Exchange, and seen to become one of the major brands, concept and business model export of the Philippines, given its Asset-Light business model could become one of the major sources of US Dollar inflow to the Philippines from 2025 onwards.

WHY THE TICKER SYMBOL “HBNB” for Hotel101 Global?

If one studies closely the novel and unique Hotel101 concept simultaneously from a deeper detailed view, its Asset-Light and highly portable business model is exportable to over 100 countries globally, of which the network effect of the brand is expected to be further elevated which should positively benefit all the stakeholders within its ecosystem.

Moreover, as far as we know, the Hotel101 unique concept has never been done in any part of the world before, moreso in multiple countries worldwide.

It’s worth noting too that unlike the other existing short-term apartment rental websites and Apps that have no consistency and have been recently disallowed in major cities because it is observed to cause security issues and friction with other residents living in the same building using their apartments as their main family residence. The Hotel101 concept while it is similar to the Short-Term Rental platforms that its inventory is owned by third party unit owners, it does not cause these issues and it also does not cause a reduction of existing inventory of apartments as Hotel101 being uniform typical 21 square meter units across its ecosystem are always new builds. In a nutshell Hotel101 is a Uniform and Consistent BNB, or a Branded Uniform Bite-Size Hotel Investment, as far as we know it’s the first and only in the world. The global patent application has been filed.

Hotel101 is also poised to be known as the most tech-advanced hotel company since its mid-end market typical rooms can optimize the use of technology since the rooms are all the same.

The Hotel101 concept and business model of having standardized 21 square meter hotel rooms with 1 type of Room globally in multiple countries backed with titled strata or condominium title that can be enrolled to the Hotel101 App as its core as far as we know does not exist yet anywhere in the world.

Unbeatable efficiency comes from having around 5x the usual size of other branded 3-star hotel chain, as Hotel101 on average has 500 rooms per site, and efficiency brought about by having literally only 1 type of room.  The latest Hotel101 typical room now comes with prefabricated toilets, and standardized flat pack furniture and a single type of bulb within the whole building. A customer literally knows what to expect wherever they may be. Hotel101 is efficient to build, efficient to maintain, efficient to operate. A formula that is expected to naturally result in room rates up to 30% cheaper versus any other hotel chain in its category in any specific country.

Almost  all  the  industries  especially  those  catering  to  the  mid-end  market  have  already  been standardized to a level of at least 9/10, but if one would take a deep dive in the current millions of existing hotel inventory that the hotel industry have, no branded chain today has over 100,000 of 1 type of room globally just like how it is now in buying a burger in a global burger chain, or getting a typical economy seat in any budget airline. Hotel101 has literally 1 type of room, all the same sizes, all the same fit out, all the same bulb, doorknob, the same bed size, and in an Asset- Light structure as all rooms are individually titled condominium units with fragmented ownership.

Hotel101 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 Hotel101 concept allows DoubleDragon to generate revenue and income twice, first from the pre-selling of the units, then second after the project is constructed it generates long term recurring revenue from hotel operations.

The Hotel101 App’s new version coming up soon will have self-check in capability, and since it has only 1 type of inventory in the App, it is very easy to use as there are no other types of rooms to choose from. The efficiency that results from these are expected to bring unmatched value and efficiency to Hotel101 customers.

The worldwide expansion headquarters and the global sales hub of Hotel101 Global Pte. Ltd. is now operational. The headquarters is located at the 4th Floor and the showroom is at the Ground Floor of PLUS Building, 20 Cecil Street at the heart of Raffles Place in the Singapore Central Business District.

The first three overseas Hotel101 projects will be in Niseko Hokkaido, Japan, Madrid, Spain and Los Angeles, California USA. These first three overseas sites will serve as bridge projects to jumpstart the transition of Hotel101 to transcend beyond these first three countries and become a global brand with a truly unique business concept that can be planted in over 100 countries. Most of the global expansion is expected to be via joint venture with developers abroad, or via licensing or franchising and each unit that is sold will bring revenues to Hotel101 once the building is completed, the enrolled units will all be generating recurring revenues to the Hotel101 Global management.

Target near term expansion roadmap for Hotel101 Global Pte. Ltd. is to be in these first 25 countries by 2026 namely: Philippines, Japan, Spain, USA, 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.

The Hotel101 concept is positioned as a better alternative to people who buy titled apartment condo real estate units with the intention to lease out or enroll the asset in Short Term Rental App platforms for passive income with the intention to preserve the long-term asset value of the titled apartment unit that they could eventually pass on as inheritance to their children or grandchildren.

“The opportunity that we see globally in the hospitality space is that of standardization because we believe it brings unbeatable efficiency, especially for the mid-end segment. Take for example the budget airline industry – essentially all budget airlines  sell  one  product  across  the  whole industry and that product is the economy seat, ” said DoubleDragon Chairman Edgar Injap Sia II

“Eventually we see Hotel101 rooms to be just like that one iconic hamburger in a global fast-food chain, it is the same no matter where you go – yes, the price changes as costs vary from country to country, but the burger doesn’t change,” said Hotel101 CEO Hannah Yulo-Luccini

Hotel101 Global Pte. Ltd. is expected to derive over 95% of its revenues outside of the Philippines to be consolidated back to the ultimate parent, Philippine-listed DoubleDragon Corporation.

Hotel101 Global’s Vision is to accumulate a portfolio of 1 (one) Million Hotel101 Rooms in 101 countries before 2050

The DoubleDragon team is committed to put in the necessary hard work, entrepreneurial grit and perseverance towards this vision.

“We  believe  that  companies  especially  those  relatively  new  players  in  a  highly  competitive industry  dominated  by  a  few long-established giants  and  still  demonstrate  that the  team  can navigate well even during a prolonged major global economic  crisis, such as what we have all experienced  in  the  past  three years, will  catapult  it  to  be in  a unique  position  to capture  the extraordinary opportunities that will present itself in abundance after all the chaos and once the fire has cleared and the smoke has settled.”

“As history has taught us, major economic recessions have actually served as a launchpad for many inspiring entrepreneurs around the world to leap forward. These temporary periods of dislocation and chaos have created rare windows of opportunity for their businesses to strengthen their market grip and have enabled them to successfully scale up which could have been impossible to break through during good times,” said DoubleDragon Corporation Chairman Edgar “Injap” Sia II.

Graced by DoubleDragon/Hotel101 Group Chairman Edgar Injap Sia II together Tony Tan Caktiong, the DoubleDragon Corporation/Hotel101 Pte Ltd finalized the agreement with Iwata Chizaki Inc. for its ambitious and first overseas project at Hokkaido, Japan with about 518 rooms.  

The Iwata Chizaki Inc is one of the major contractors in Japan and the same contractor who built the Chitose  International Airport in Sapporo, Hokkaido Japan 

The signing between DoubleDragon/Hotel101 Global Pte Ltd and Iwata Chizaki Inc earlier today was witnessed by Philippine President Ferdinand R. Marcos during the state visit of the Philippine President to Japan.