LISTED DoubleDragon Corp. (DD) said its subsidiary Hotel101 Global, Inc. has recorded more than 45,000 room-night bookings for its newly opened Hotel101 Madrid since it began accepting reservations in March, equivalent to about €5.44 million (roughly P387 million) in revenue.
“This successful start bodes well for continued revenue generation from Hotel101-Madrid in the European market,” DoubleDragon said in a statement on Tuesday.
Hotel101 Madrid is located on a 6,593-square-meter site in Valdebebas, near transport links and major venues, including the IFEMA convention complex and Madrid-Barajas Airport. The hotel has also been designated as an official partner property for the Formula 1 Spanish Grand Prix from 2026 to 2035 under an agreement with MATCH Hospitality Europe.
The 680-room property is the group’s first operational hotel outside the Philippines and marks its entry into the European market.
In the Philippines, DoubleDragon said its existing properties, Hotel101 Manila and Hotel101 Fort, continue to report high occupancy levels, contributing to recurring revenues.
The company plans to add 2,229 hotel rooms in 2026 across several locations, including projects in Davao and Cebu, as well as the 482-room Hotel101 Niseko, which is scheduled to open in December and will mark the company’s entry into Japan.
DoubleDragon said it expects its hospitality segment in the Philippines and abroad, along with its mall, office, and warehouse leasing operations, to support recurring revenue growth.
The company said it continues to tap capital markets in the Philippines and the United States to strengthen its balance sheet and raise its total equity base to P500 billion.
Hotel101 operates under an asset-light model, which the company said it plans to expand internationally as part of its broader growth strategy. — Alexandria Grace C. Magno
