Hotel101 Global Holdings Corp., a subsidiary of DoubleDragon Corp., the real estate firm led by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, is seeking to raise up to $300 million, or about P17.7 billion, in the United States through a proposed issuance of perpetual convertible preferred shares.

In a stock exchange report on Monday, the company said the Hotel101 Global board approved the proposed offering to strengthen the group’s balance sheet and accelerate its global expansion.

The company said the capital raise is “expected to mainly fuel the prop-tech, asset-light HBNB business model towards its next growth stage of worldwide expansion” and is anticipated to take place in 2026, possibly in multiple tranches.

“The Company intends for the net proceeds from the Proposed Transaction to be applied towards mainly fueling the Company's strategic expansion of Hotel101 projects worldwide, advancing its innovative, asset-light, technology-enabled hospitality platform,” Hotel101 Global said.

However, it clarified that the proposed transaction is still subject to market conditions, the hiring of underwriters and other parties, final agreements, and regulatory approvals, and may not proceed or be completed as planned.

This year, the company aims to secure commitments for a large number of rooms across multiple countries, mainly through joint ventures and licensing deals with local partners to support efficient and scalable growth.

These efforts support Hotel101 Global’s long-term goal of operating one million rooms across 100 countries.

Hotel101 Global had a market capitalization of about $2.3 billion or around P139 billion as of 16 January, while DoubleDragon reported total assets of P217.3 billion as of September 2025.