DoubleDragon sees dollar boost from Nasdaq debut

Hotel101 Global, the international hospitality arm of DoubleDragon Corp., has made its trading debut on the Nasdaq Stock Exchange on 1 July under the ticker symbol HBNB.

With an equity value of $2.3 billion, the company said Tuesday that the listing is seen as a key driver in pushing DoubleDragon’s bid to scale up its global presence and generate more US dollar inflows into the Philippine economy.

Nasdaq New York HQ

The Nasdaq listing was formalized with a bell-ringing ceremony at Nasdaq headquarters in New York.

DoubleDragon said the international rollout of Hotel101 is expected to become “one of the major US Dollar inflow generators to the Philippine economy” as it expands its asset-light hospitality business overseas.

Hotel101 Global is nearing completion of its first overseas project in Madrid, Spain, and is ramping up development toward its goal of one million rooms across 100 countries.

DoubleDragon said Hotel101 combines real estate, technology, and Filipino hospitality into a scalable model that can be exported globally.

Novel, asset-light concept

“It also happens to be one of the very few that has organically developed a novel asset-light concept and highly unique business model in Hotel101 that is portable and exportable to other continents globally,” the company said.

The company added that the expansion of Hotel101 is expected to elevate the Filipino brand of hospitality across international markets.

DoubleDragon is led by principal shareholders Injap Investments Inc., headed by Mang Inasal founder Edgar “Injap” Sia II, and Honeystar Holdings Corp., led by Jollibee founder Tony Tan Caktiong.