DoubleDragon Corporation (PSE: DD) just dropped one of the biggest disclosures of the year — packed with multiple milestones all at once. Its subsidiary, Hotel101 Global Holdings Corp. (Nasdaq: HBNB), is moving to raise US$300 million (roughly ₱18 billion) from investors in the United States. At the same time, the company is opening hotels across four cities in 2026 and has landed an official partnership with Formula 1 in Madrid, Spain. Let’s break it all down.
What is Hotel101 Global raising money for?
According to the disclosure filed by DoubleDragon with the PSE, Hotel101 Global has disclosed on the US Nasdaq Stock Exchange that it is taking the next step toward a US$300 million Series A Perpetual Preferred Share Offering in the United States. In plain terms: Hotel101 is selling a special type of ownership stake to investors in America to raise a very large amount of money.
What is a ‘Perpetual Preferred Share’?
Think of it like a special VIP membership that pays dividends (a share of profits) to the investor — but unlike regular shares, the company doesn’t have a fixed date to buy them back. It’s a way to raise money without adding debt.
The funds raised are intended mainly to fuel Hotel101’s worldwide expansion — building more hotels globally and accelerating its transition to a fully ‘asset-light’ model, meaning the company earns money from managing and licensing its brand rather than owning every building itself.
2026: DoubleDragon’s biggest year for hotel room openings
According to the disclosure, DoubleDragon is set to open a total of 2,229 new hotel rooms across four locations in 2026 — its highest single-year count ever:
- Madrid, Spain — 680 rooms (opened March 2026)
- Davao, Philippines — 519 rooms
- Cebu, Philippines — 548 rooms
- Niseko Hokkaido, Japan — 482 rooms
Hotel101-Madrid: already beating expectations — and now an F1 partner
Hotel101-Madrid opened on March 10, 2026 — the very first Hotel101 property outside the Philippines. The disclosure states the property has already exceeded company expectations in both operating performance and occupancy. Hotel101-Madrid has been named an Official Hotel Partner of the Formula 1 Spanish Grand Prix, which is set to be held in Madrid starting September 2026. This partnership is formalized through a 10-year agreement with Match Hospitality, the official hospitality rights holder for Formula 1 events.
What is the ‘condotel’ business model and how does Hotel101 make money?
According to the disclosure, Hotel101 earns revenues in two ways:
- During construction: Individual hotel units are sold to investors — like buying a condo that becomes part of a hotel.
- Long-term operations: The hotel earns ongoing income from guests staying day-to-day, generating recurring revenue for years.
DoubleDragon’s bigger picture: key facts from the disclosure
- Hotel101 Global market cap: approx. US$2.34 billion as of January 16, 2026 (Nasdaq: HBNB)
- DD net debt-to-equity ratio: 0.84x — one of the lowest among PSE-listed companies
- Credit rating: PRS AAA (Triple A) from Philippine Rating Services Corporation — the highest tier by PhilRatings
- Completed asset portfolio: 1.5 million sqm across Luzon, Visayas, and Mindanao
The disclosure also notes that DoubleDragon’s long-term goal is to grow its total equity base to ₱500 billion pesos, and Hotel101 Global’s ultimate vision is to operate 1 million hotel rooms across 100 countries. The medium-term target is to be present in 25 countries within the next three years.
Who owns DoubleDragon?
According to the disclosure, DoubleDragon’s principal shareholders are two well-known Filipino business figures: Edgar ‘Injap’ Sia II — founder of Mang Inasal — through Injap Investments Inc., and Tony Tan Caktiong — founder of Jollibee — through Honeystar Holdings Corp. DoubleDragon is also notable for being the first and only Filipino company to have a subsidiary (Hotel101 Global) listed on the US Nasdaq Stock Exchange, which it achieved on July 1, 2025.
Other businesses under DoubleDragon
Beyond hotels, the company operates a wide portfolio per the disclosure: community malls across provincial cities including Cotabato City, Koronadal, Dipolog, Isulan, and even Basilan in the Bangsamoro Autonomous Region; office buildings in Metro Manila; and industrial warehouses through CentralHub — a joint venture between DoubleDragon and Jollibee Foods Corporation — being built toward a ₱24.8 billion warehouse leasing portfolio, with plans to list as the Philippines’ first industrial REIT.
