DOUBLEDRAGON Corporation’s subsidiary Hotel101 Global has achieved milestone of exceeding 500,000 (half a million) registered users on its Hotel101 Global app on Wednesday, October 30. The next milestone of 1 million registered users is expected to be attained by the end of 2024.
“Eventually our goal is for the Hotel101 Global app (HBNB app) to have over 1 million registered users in every country where Hotel101 operates. By next year we intend to complete Hotel101-Madrid and we would start to build up HBNB app users towards another 1 million from the citizens of Spain, to be followed by another million users from Japan in 2026 then United States, and eventually a million each from the citizens of United Kingdom, UAE, India, China, Thailand, Malaysia, Vietnam, Indonesia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France and Saudi Arabia,” said DoubleDragon chairman Edgar Injap Sia II.
“The HBNB app with self check-in capabilities will provide Hotel101 customers with seamless hotel experience starting from the time they book their rooms, to check in, all the way through to check out and settling the bill — all can be done in the HBNB app. The HBNB app is expected to become the most efficient and easiest to use hotel app globally. The Hotel101 Global Hotel chain seeks to delight its customers by providing them with a completely predictable and consistent one room concept anywhere it locates around the world,” said Hotel101 Global CEO Hannah Yulo-Luccini.
The first three Hotel101 overseas projects are expected to generate inflows of US$471 million (P27.2 billion) in foreign currency revenues to DoubleDragon. The upcoming Hotel101 Global listing in the US to further strengthen DoubleDragon’s balance sheet.
Out of the Hotel101 Global’s one million operating hotel rooms global target by 2050, 50,000 are intended to be in the Philippines, which is expected to further cement the position of DoubleDragon’s Hotel101 to become the largest hotel company in the Philippines and simultaneously become one of the Top 5 hotel companies in the world.
The asset-light Hotel101 unique and novel concept with one type of room all throughout its ecosystem at an average of about 500 rooms per site, allows DoubleDragon to generate revenue and income twice – first from the preselling of the Hotel101 units, then second, after the project is constructed, it generates recurring revenues from its hotel operations.
Hotel101 adopts dynamic pricing on its room rates via the Hotel101 Global app where its room price moves up and down depending on the real-time supply and demand on the chosen date of booking.
DoubleDragon’s total equity is set to exceed P100 billion for the first time in 2024. The company is positioned to become one of the few companies in the Philippines with total equity at 12-digit level. DoubleDragon happens to be one of the very few companies that has not only positioned a diversified hard asset portfolio spread out across the Philippines, but it also happens to be one of the very few that has organically developed a novel asset-light concept and highly unique business model in Hotel101 (HBnB) that is portable and exportable to other continents globally. The export of Hotel101 is expected to eventually become one of the major US dollar inflow generators to the Philippine economy.
DoubleDragon’s string of titled investment properties strategically planted in prime locations in Luzon, Visayas, Mindanao, and overseas serves as its strong underlying solid foundation./PN
