HOTEL101 GLOBAL HOLDINGS Corp., the newly listed Nasdaq subsidiary of DoubleDragon Corp. (DD), is expected to account for as much as 90% of the parent firm’s business in the coming years, its global chief executive officer said.
“This (listing) will really unlock a lot of the value that’s really of DD, which is the controlling shareholder of Hotel101 Global,” Hotel101 Global Chief Executive Officer Hannah Yulo-Luccini said during the Money Talks with Cathy Yang program on One News on Tuesday.
“We believe that Hotel101 Global will be 90% of DD’s business in the future and a very large contributor of foreign-dominated revenues to the parent company,” she added.
Hotel101 Global began trading on the technology stock-heavy Nasdaq Stock Exchange in the United States on Tuesday (New York time) under the ticker “HBNB.”
“We are positioning ourselves as a uniform bed-and-breakfast. We’re an asset-light, prop-tech hospitality platform which we believe will really disrupt the hospitality industry globally with our one-room global hotel concept that promises consistency, comfort, and irresistible value,” Ms. Yulo-Luccini said.
The company, which listed on June 27, is the first Filipino-owned firm to be listed on the Nasdaq.
Hotel101 Global has an equity value of $2.3 billion following its business combination with JVSPAC Acquisition Corp.
Ms. Yulo-Luccini said the Nasdaq listing would give the company broader access to capital.
“The significance for us being listed on the Nasdaq will allow us access to the capital market and a much deeper capital base of investors in the US,” she said.
“We hope to see the support of, especially a lot of the Filipinos around the world that are very happy to see a Filipino company trade for the first time on the Nasdaq,” she added.
Ms. Yulo-Luccini said Hotel101 Global did not consider delaying the Nasdaq listing despite global trade policy uncertainties and escalating conflict in the Middle East.
“Not for a moment did we think of postponing this. We believe the moment is now for Hotel101 Global because the fundamentals of our business are very strong,” she said.
“We have a bold vision to expand this to one million rooms across 100 countries because we have something that is truly special and truly spectacular,” she added.
The company is set to complete its first overseas project in Madrid by December of this year. The project will have 680 rooms.
Hotel101 Global is also constructing the 482-room Hotel101-Niseko in Hokkaido, Japan.
It has also secured a site for a planned hotel in Los Angeles, California.
In May, the company signed an agreement with Horizon Group to establish a joint venture for the development of up to ten hotels in Saudi Arabia.
DoubleDragon shares fell by 5.59% or 76 centavos to close at P12.84 each on Tuesday. — Revin Mikhael D. Ochave
