HOTEL101 GLOBAL Holdings Corp. said it has taken the next step in its proposed $300-million Series A perpetual preferred share offering in the United States.
In a statement on Tuesday, the Nasdaq-listed subsidiary of DoubleDragon Corp. (DD) said the net proceeds of the proposed equity transaction will be used mainly to fund the global expansion of its Hotel101 projects and advance its asset-light, prop-tech hospitality platform.
The company said the fundraising is part of its strategy to accelerate its worldwide expansion and scale its standardized hotel model.
“The DD group continues to tap the capital markets in the Philippines and the United States to further boost its balance sheet towards its goal to increase its total equity base to P500 billion,” DoubleDragon said.
DoubleDragon is set to open its highest number of hotel rooms in a single year in 2026, with 2,229 new rooms expected to become operational. These include 680 rooms in Madrid, Spain, which opened in March, followed by 519 rooms in Davao, 548 rooms in Cebu, and 482 rooms in Niseko, Hokkaido, Japan.
The company said its first overseas property, which opened on March 10, has exceeded expectations in both operations and occupancy. It added that Hotel101 Madrid is expected to achieve above-industry occupancy levels ahead of the Formula 1 Grand Prix in Madrid in September 2026.
“These milestones form a key part of Hotel101 Global’s vision to establish and operate 1 million typical Hotel101 rooms across 100 countries,” the company said.
Hotel101 Madrid has also been designated as the official hotel partner for the Formula 1 Spanish Grand Prix under a 10-year agreement with Match Hospitality.
DoubleDragon shares went up by 0.65% to close at P9.36 each on Tuesday. — Alexandria Grace C. Magno
