DOUBLEDRAGON Corp. on Tuesday said its hospitality arm, Hotel101 Global Inc., had posted strong early bookings for its 680-room Hotel101 Madrid property since it began accepting reservations.
In a statement, DoubleDragon said more than 45,000 room nights at Hotel101 Madrid were already booked to date, translating to some 5.44 million euros (approximately P387 million) in revenues. The hotel officially opened in March this year.
It said the robust early performance underscored a strong start for its first operational international property in Europe, adding that this signaled robust demand ahead, supporting its optimistic outlook for recurring revenue generation from its overseas portfolio.
Hotel101-Madrid is located on a 6,593-square-meter site in Valdebebas, Madrid, making it one of the top five largest hotels in the Spanish capital.
Location-wise, it is conveniently near key infrastructure hubs, including the Madrid-Barajas International Airport, Ifema convention center, and the Real Madrid Sports Complex.
The property was also recently designated as an official hotel partner for the Formula 1 Spanish Grand Prix from 2026 to 2035.
DoubleDragon noted that its hospitality arm had also begun generating recurring revenues from its Philippine operations, including the 519-room Hotel101-Manila and 606-room Hotel101-Fort.
Looking ahead, the developer said Hotel101 Global was expecting 2026 to be its most active expansion year, with a total of 2,229 additional rooms scheduled to go live across multiple markets.
Apart from the Madrid site, the subsidiary also has upcoming properties in Davao, Cebu and the 482-room Hotel101-Niseko in Hokkaido, Japan that is set to open in December 2026.
Shares of DoubleDragon on Tuesday rose P0.05, or 0.53 percent, to close at P9.45 each. NAZYLEN JOY MABANGLO