Hotel101 eyes offshore markets to raise funds

MANILA, Philippines — DoubleDragon Corp., chaired by tycoon Edgar “Injap” Sia II, said its Singapore-listed subsidiary Hotel101 Global Pte. Ltd. plans to tap the offshore equity markets with a $125 million capital issuance.

This is in preparation for Hotel101 Global’s planned initial public offering in the coming years.

In a disclosure DoubleDragon said its board approved a $125 million dollar-denominated Series A and Series B offshore equity capital issuance by Hotel101 Global.

Hotel101 Global will be DoubleDragon Corp.’s vehicle for all Hotel101 developments outside the Philippines.

Hotel101 Global is intended to be the future overseas IPO vehicle for the DoubleDragon Corp.’s international expansion of Hotel101.

“This capital exercise would also enable Hotel101 Global to achieve its aspiration of eventually becoming a listed company in a stock exchange abroad as Hotel101 Global trails its way toward its vision to eventually become one of the Top 10 largest hotel brands in the world,” Sia said.

Hotel101 Global is creating a portfolio of over 200,000 rooms by 2035 to be developed through direct investments, joint ventures with local companies in other countries, and through brand and concept licensing arrangements.

Series A offshore institutional investors will have the opportunity to be one of the first batch of venture capital investors that can take early equity positions in Hotel101 Global.

The first Series A tranche of Hotel101 Global Pte. Ltd. Series A is set to launch in January 2023 with a series of investor calls with offshore venture capital institutions.

Hotel101 rooms globally are generally uniform in size and cater to the mid-end market, enabling a highly efficient booking process and allowing guests to know exactly what to expect in a Hotel101 wherever it may be located.