Hotel101 Global Holdings Corp., a subsidiary of listed property developer DoubleDragon Corp., has become the first Filipino homegrown hotel brand to operate overseas with the official opening of Hotel101-Madrid.
The company announced on Tuesday that the 680-room property is expected to begin generating recurring revenue, thereby strengthening the company’s global growth strategy.
Strategically located in Madrid’s Valdebebas district near Madrid-Barajas Airport, IFEMA convention center, Real Madrid’s training complex, and the new Formula 1 Madrid Grand Prix circuit, the hotel caters to both leisure and business travelers. It ranks among the top five largest hotels in Spain.
Hotel101-Madrid features the brand’s signature “HappyRoom” units with kitchenettes, four-star amenities including swimming pools, a gym, function rooms, a business center, 24/7 reception, and the HBNB Kitchen restaurant operated by award-winning Grupo La Sucursal.
“This landmark opening represents a historic milestone for the company and will make history today as the first-ever Filipino homegrown hotel brand to operate overseas,” the company said.
The Madrid opening is expected to pave the way for further European and global projects as the company pursues its long-term goal of operating 1 million rooms in 100 countries.
Listed on Nasdaq with a market capitalization of about $1.9 billion, Hotel101 Global uses an asset-light, tech-enabled “condotel” model that generates revenue both from advance unit sales and daily hotel operations.