DoubleDragon’s Hotel101 rising in Saudi Arabia

MANILA, Philippines — DoubleDragon Corp.’s Hotel101 Global is embarking on an aggressive expansion in Saudi Arabia through a partnership with Saudi-headquartered investment company Horizon Group.

Hotel101 Global has inked a joint venture partnership agreement with Horizon Group to develop up to 10,000 rooms worth about $2.5 billion in Saudi Arabia.

An initial five locations for the Hotel101 projects have been identified under the collaboration, the first of which is eyed to be located in Medina, followed by Riyadh, Jeddah, Abha and Alula.

“We are inspired by the leaders of Saudi Arabia and their sheer determination and will power to make things happen, as such, we are confident in the plans they have laid out for the region and we believe the Hotel101 concept will be able to make a significant contribution in terms of room keys to complement the 2030 Vision for the Kingdom, and to form part of our global vision of one million Hotel101 rooms worldwide,” Hotel101 Global founder and DoubleDragon chairman Edgar “Injap” Sia II said.

Saudi Arabia is one of the 25 countries identified for the initial expansion of Hotel101 globally.

The first three locations of Hotel101 overseas projects are Spain, Japan and the United States.

Hotel101’s long-term vision is to have one million rooms, operating in over 100 countries worldwide.

The partnership unites Hotel 101’s high-efficiency HappyRoom concept and condo-hotel funding model with Horizon’s deeply rooted market expertise and expert connections in the region.

“We feel very fortunate to have found the right local partners to rapidly expand the Hotel101 brand in the Kingdom of Saudi Arabia,” Hotel101 CEO Hannah Yulo-Luccini said.

The Horizon Group is focused on partnering and investing in Vision 2030 industries with international market leaders.

The company, which has many partnerships and affiliations, is a market leader in its industry with a preference and focused on hospitality and manufacturing.

“With Hotel 101’s rapid-build model and Horizon’s local know-how, we will add 10,000 quality, affordable rooms across the Kingdom – supporting Vision 2030, creating Saudi jobs and expanding options for pilgrims, tourists and business travelers alike,” Horizon Group CEO Abdulrahman Sharbatly said.

Yulo-Luccini said the company believes that Saudi Arabia will be one of the most exciting markets for Hotel101 globally.

Saudi Arabia welcomed 27 million international tourists and 79 million domestic tourists in 2023, breaching the 100 million visitor mark.

The robust tourism sector of Saudi Arabia provides substantial opportunities in support services and infrastructure in areas such as hotels, shopping, food and beverage and transportation.

“We see tremendous opportunities in the Kingdom of Saudi Arabia given the high growth in tourism both domestic and international,” Yulo-Luccini said.

Hotel101 sees a global opportunity in the hospitality space that brings efficiency, especially for the value segment.

Hotel101’s asset-light condotel business model is designed to scale efficiently while maximizing value for both unit owners and guests.