Hotel101, a DoubleDragon subsidiary, plans IPO through SPAC merger, aiming for global expansion.

From Yahoo Finance: 2025-03-26 14:28:00

Hotel101 Global, a DoubleDragon subsidiary, aims for an IPO through a SPAC merger. The deal values the IPO at $2.3 billion, likely in 2025 pending regulatory approval. Hotel101 operates a “condominium hotel” model, managing rooms owned by individuals. It plans to expand to 25 countries by 2026.

The company’s founders are Injap Sia II and Tony Tan Caktiong, of Jollibee fame. Hotel101 has three open properties in Manila and is building overseas hotels in Madrid and Hokkaido. It also plans a U.S. location in Los Angeles. DoubleDragon, its parent company, is publicly traded with $3 billion in assets.

Despite recent challenges for travel SPACs, Hotel101 pursues its SPAC merger. The company offers a unique hotel model, combining Airbnb-like rentals with hotel efficiency. With a focus on global expansion, Hotel101 aims to redefine the hospitality sector with its innovative approach.

Read more: Hotel101 IPO? 6 Facts About the Hotel Condo Brand’s Planned SPAC