Hotel101 all set to start Madrid project
DoubleDragon Corp., a real estate company led by tycoons Edgar "Injap" Sia II and Tony Tan Caktiong, has fully acquired 6,593 square meters of prime commercial land in Madrid Spain where a new Hotel101 site will be built.
The company announced on Tuesday that its unit, Hotel101 Global, has received all the necessary land purchase documents and has paid the full purchase price.
Hotel101-Madrid Spain, scheduled to be completed by the last quarter of 2025, is seen generating P8.8 billion in condotel sales revenue.
The property will be located in Avenida Fuerzas Armadas, Valdebebas, Madrid, and is surrounded by major landmark buildings. It is only about a few minutes away from Valdebebas Train Station, the IFEMA convention complex, the Real Madrid Sports Complex, and the Madrid Barajas International Airport.
For those who purchase 3 Hotel101 units in Madrid, Spain from the start of the pre-sale period until 31 December, or until the units are sold out, whichever comes first, the Golden Visa processing and advisory fee, which is normally €6,000, will be waived.
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DoubleDragon recently started the operations of both its Global Corporate Office and Global Sales Hub in Singapore, which serves as a hub for the company members across different countries as they aim to expand the Hotel101 Unique and Asset-Light business model globally.
The Hotel101 Global Sales Hub in Singapore boasts the latest version of Hotel101's signature 21 square meters HappyRoom equipped with worldwide standard features such as the Queen bed and Single bed using Emma Sleep mattresses.
DoubleDragon is targeting its local portfolio to fully mature and reach its optimal revenue generation level by 2025. Within the same year, the company, on the other hand, seeks to gain a significant market grip for its Offshore Hotel101 Global portfolio.
The company envisions Hotel101 Global Pte Ltd to reach 500,000 uniform Hotel101 room portfolios globally by 2040 and make the homegrown Filipino brand become one of the top 5 global hotel groups operating in over 101 countries.
