Hotel101 Global Holdings Corp., a unit of Philippine-listed DoubleDragon Corp., has signed agreements for the development of a 766-room hotel in Melbourne, Australia, marking a major expansion of its overseas portfolio.
In a disclosure on Tuesday, Hotel101 said the project, to be known as Hotel101-Melbourne, would be built on 540 Flinders Lane in the heart of Melbourne’s central business district.
The company said the property was set to become the largest hotel in the city by room count and is expected to be completed in 2029.
Hotel101, which trades on the Nasdaq under the ticker HBNB, said the Melbourne project was expected to generate about AU$323.6 million, or roughly P12.6 billion, in sales and formed part of a global growth strategy to operate in 100 countries worldwide.
The hotel will offer meeting spaces and a conference center, targeting both business and leisure travelers, being located near major transport hubs.
The site is also near key attractions such as Flinders Street Station, the Yarra River and Southbank.
The company said four-star amenities would be offered at affordable prices consistent with its standardized “condotel” business model. These include modern rooms, all-day dining, a swimming pool, a gym, a business center, rooftop bar and parking facilities.
The project remains subject to customary national, regional and municipal regulatory approvals.
Hotel101 is an asset-light, property-technology hospitality platform generating revenue from both the sale of hotel units during construction and recurring income from hotel operations.
Its overseas expansion is being driven mainly through joint ventures and licensing agreements with local developers.
Its parent DoubleDragon said the expansion reinforces its strategy of locating assets in prime and strategic locations both in the Philippines and abroad.
DoubleDragon earlier reported a consolidated net income of P2.55 billion for the first nine months of 2025 on the back of a 62.8 percent rise in consolidated revenues to P10.46 billion.
DoubleDragon shares rose P0.27, or 2.91 percent, to close at P9.55 each on Tuesday.