SIA-LED DoubleDragon Corp. (DD) on Thursday said its hotel project in Madrid is expected to be finished by the fourth quarter (Q4) of 2025.
The Hotel101-Madrid project, which is being implemented by DoubleDragon’s subsidiary Hotel101 Global, will begin construction in April, the listed company said in a regulatory filing.
Hotel101 Global broke ground for the project on March 13.
The 680-room hotel project is located in a 6,593 square-meter property along Avenida Fuerzas Armadas, Valdebebas, Madrid, Spain.
The hotel’s construction will be done by Ferrovial Construction Group, one of the largest construction companies in Spain.
“[The] opening is just in time for the start of the Madrid F1 Grand Prix, which happens to be located right beside Hotel101-Madrid,” DD said.
“[The hotel] is surrounded by major landmark buildings and is about three minutes walk to the Valdebebas Train Station, four minutes walk to IFEMA convention complex, five minutes walk to Real Madrid Sports Complex, and around seven minutes to the new Madrid Barajas International Airport,” it added.
Hotel101 is seeking to have presence in 25 countries by 2026. These include the Philippines, Japan, Spain, USA, United Kingdom, United Arab Emirates, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France, and China.
On Thursday, DoubleDragon shares fell by 0.61% or five centavos to P8.13 apiece. — Revin Mikhael D. Ochave
