DOUBLEDRAGON Corp. on Tuesday said its unit Hotel101 Global Holdings Corp. was pursuing a Series A perpetual preferred share offering on the Nasdaq Stock Exchange to raise funds for global expansion.
In a disclosure, DoubleDragon said Hotel101 “has disclosed in the US Nasdaq Stock Exchange that it has taken the next step for a $300-million (approximately P18-billion) series A perpetual preferred share offering in the United States.”
The disclosure did not elaborate what next step had been taken, but added that “net proceeds of the proposed equity transaction would be applied mainly to fueling the company’s strategic expansion of Hotel101 projects worldwide.”
The move comes as the group ramps up its international presence following the opening of its first overseas project, Hotel101-Madrid, in March.
DoubleDragon said the Spain property had so far exceeded internal expectations in terms of occupancy and operations, with performance seen stabilizing at above-industry levels ahead of the Formula 1 Spanish Grand Prix in September.
It added that 2026 was shaping up to be a milestone year with a total of 2,229 new hotel rooms scheduled to go online across key locations, including Madrid, Davao, Cebu and Niseko in Japan.
The planned Nasdaq fundraising was said to support Hotel101 Global’s long-term goal of building a network of 1 million rooms across 100 countries, anchored on partnerships such as joint ventures and licensing deals with local developers.
Hotel101Global is listed on Nasdaq (ticker: HBNB) with a market capitalization of approximately $2.34 billion as of January 2026, DoubleDragon said.
The company has been positioning its “condotel” concept as a scalable export, generating revenues from both the pre-selling of units and recurring hotel operations.
DoubleDragon said it was continuing to tap both the domestic and international capital markets to strengthen its balance sheet toward its goal of growing its equity base to P500 billion.
The group added that its balance sheet remained “healthy,” citing a debt-to-equity ratio below 1.0x and a top-tier credit rating from Philippine Rating Services Corp.
Beyond hospitality, DoubleDragon maintains a diversified portfolio spanning provincial malls, office buildings and industrial warehouses, and is pursuing plans to expand its logistics assets under a joint venture with Jollibee Foods Corp.
The company’s shares added P0.06, or 0.65 percent, to close at P9.36 each on Tuesday.
