Construction of Hotel 101-Madrid is in full swing following its ground breaking last March.
The ongoing development, scheduled to be completed by Q4 2025, is led by Ferrovial Construcción, one of the largest construction companies in Spain.
Hotel 101-Madrid is expected to open in time for the start of the Madrid F1 Grand Prix.
Developer DoubleDragon Properties Corp. has reported robust cash inflows from unit buyers, totaling to over P5.8 billion in foreign currency cash from retail buyers in just a few months during Q2 of 2024.
The 680-room Hotel 101-Madrid is set to become one of the top five largest hotels in Madrid, Spain.
It is located in a 6,593 square-meter prime commercial property along Avenida Fuerzas Armadas, Valdebebas, Madrid. The area is a three-minute walk to the Valdebebas Train Station, four-minute walk to IFEMA convention complex, five-minute walk to Real Madrid SportsComplex and around seven-minute walk to the new Madrid Barajas International Airport.
The property, the first Hotel 101 development in Europe, will have about 736 rooms and an all-day dining restaurant (concessionaire-operated), a business center, swimming pool, fitness gym and a commercial space for a 24-hour convenience store.
The 482-room property Hotel 101-Niseko is under construction in Hokkaido, Japan. Another site has been secured in Los Angeles, California to house the first Hotel 101 in the United States.
Hotel 101 Group is a subsidiary of DoubleDragon Corporation, which operates Hotel 101-Manila and Hotel 101-Fort, Injap Tower Hotel in Iloilo City, Jinjiang Inn Philippines in Ortigas, Makati, and Boracay. The Hotel 101 Group has unveiled its direction to begin expanding abroad, aiming to make Hotel 101 the first global Filipino hotel chain.
The target near term expansion roadmap for Hotel 101 Global is to be in these first 25 countries by 2026: Philippines, Japan, Spain, USA, United Kingdom, UAE, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France and China.
Hotel 101’s long-term vision is to have one million rooms, operating in over 100 countries worldwide before 2050.