DOUBLEDRAGON Corp. posted a 253.59-percent increase in core net income in the first nine months of 2026 to P3.91 billion, markedly higher than the P1.1 billion booked in the same period last year.
In a disclosure on Friday, the company reported core revenues of P20.78 billion for the January-to-September period, up 143.65 percent from the same period last year.
DoubleDragon said this was the first time in its corporate history that its nine-month core revenues, excluding revaluation gains, reached the P20-billion mark.
Overseas operations accounted for a growing share of profits, with foreign currency revenues contributing 59.03 percent of total core revenues in the third quarter.
The company attributed the revenue surge to the expansion of its Hotel101 Global business, which recently opened its fully sold-out hotel prototype in Madrid, Spain, with 680 operating rooms.
Hotel101 Global operates under a business model that generates income from both the sale of hotel units and recurring revenues from hotel operations.
DoubleDragon’s consolidated net income for the third quarter reached P1.13 billion, more than six times the P183.67 million recorded in the same period last year.
The company said its improving operating performance reflected a transition toward recurring revenues from its domestic and international businesses.
As of Sept. 30, 2026, DoubleDragon’s total assets stood at P256.82 billion, up P31.56 billion from P225.26 billion at the end of 2025. Total equity increased by P5.41 billion to P107.02 billion over the same period.
The company said it expected further growth in core revenues from its existing property portfolio, new mall and warehouse openings, office tenants, MerryMart supermarkets and Hotel101 unit sales in the Philippines and overseas.
DoubleDragon is pursuing an expansion strategy for Hotel101, with a long-term target of developing one million standardized hotel rooms across more than 100 countries and generating P500 billion in total core revenues ahead of its original 2035 goal.
The company said it was tapping various capital initiatives to strengthen its balance sheet and support its long-term expansion plans.
DoubleDragon shares surged P0.48, or 4.13 percent, to close at P12.10 each on Friday.
