It is merging with Hong Kong-based special purpose acquisition firm JVSPAC Acquisition Corp for the listing.
A joint statement by DoubleDragon, Hotel101 and JVSPAC last month said Hotel101 is expected to have an equity value of over US$2.3 billion following the transaction and will list under ticker “HBNB”.
Manila-listed firm DoubleDragon is the Philippines’ fourth largest mall developer, helmed by Jollibee founder Tony Tan Caktiong and real estate businessman Edgar Sia.
GLOBAL EXPANSION PLANS
Hotel101, which is headquartered in Singapore, is eyeing a long-term expansion ambition of 1 million rooms in over 100 countries.
Currently, it operates two hotels in the Philippines, and has three projects under development in Japan’s Niseko, Spain’s Madrid, and Los Angeles in the United States.
In the short term, it plans to expand to 25 countries by 2026, including destinations in Southeast Asia, East Asia, the Middle East and Europe.
