DOUBLEDRAGON Corp. on Tuesday said that subsidiary Hotel101 Global Holdings Corp. had taken the next step toward a planned $300-million (about P18.2 billion) Series A perpetual preferred share offering in the United States.
DoubleDragon told the Philippine Stock Exchange that Hotel101 disclosed the development through a Nasdaq filing. Proceeds from the proposed equity raise will be used to fund the rollout of projects worldwide and support its asset-light, prop-tech-driven hospitality platform.
It added that Hotel101 Global was positioning itself for rapid international growth through a standardized “condotel” model, with long-term plans to operate 1 million rooms across 100 countries.
DoubleDragon said 2026 was expected to be a milestone year for the subsidiary, with a total of 2,229 new hotel rooms set to become operational.
This includes 680 rooms in Madrid, Spain, which opened last March 10, followed by 519 rooms in Davao, 548 rooms in Cebu, and 482 rooms in Niseko, Hokkaido in Japan.
Hotel101 Global, listed on Nasdaq under the ticker HBNB, was said to be advancing its expansion through joint ventures and licensing agreements with local developers, targeting a presence in at least 25 countries in the medium term.
DoubleDragon, meanwhile, said it was continuing to tap capital markets in both the Philippines and the United States to strengthen its balance sheet, with a goal of growing its equity base to P500 billion.
Shares of DoubleDragon added P0.01, or 0.11 percent, to close at P9.13 each on Tuesday.
