MANILA, Philippines — DoubleDragon Corp. subsidiary Hotel101 Global Pte. Ltd., the first Filipino-owned company to be listed on the US Nasdaq, is poised to make its entry into Cambodia as part of its aggressive global expansion.
DoubleDragon said that Hotel101 Global entered into definitive agreements with Canopy Sands Development Co. Ltd. to develop two Hotel101 projects in Cambodia.
The two Hotel101 projects in Cambodia are expected to be among the largest hotels in the country by number of rooms upon completion by 2028.
DoubleDragon said the arrangement with Canopy Sands Development would also enable Hotel101 to navigate the local landscape well and utilize its existing local sales network in Cambodia.
“The landmark developments, the first to be located in Phnom Penh, the capital and commercial hub of Cambodia, and the second to be located at Bay of Lights in Sihanoukville, a burgeoning financial and tourism beacon, mark a pivotal step in Hotel101 Global’s long-term vision to operate one million hotel rooms across 100 countries,” DoubleDragon said.
Hotel101–Phnom Penh will rise on a 2,033 square meters of prime commercial land located in the Tonlé Bassac district of Phnom Penh, a vibrant riverfront economic and cultural hub.
The project, which will have a capacity of approximately 700 rooms, is expected to enhance the current hospitality offering that are already operating in Phnom Penh, which include global brands such as Hyatt, Rosewood, Shangri-La and Raffles.
The other project is Hotel101–Sihanoukville, which is set to rise on a 4,623 square meters of prime commercial land within the 934-hectare masterplanned coastal development led by Canopy Sands Development in Sihanoukville.
Hotel101–Sihanoukville will feature about 680 rooms.
DoubleDragon expects to generate $109.55 million or P6.3 billion in sales revenue from the two Hotel101 projects in Cambodia once fully sold.
The projects are expected to contribute to Cambodia’s economic growth through job creation, foreign investment and increased tourism, while attracting both local and international buyers under Hotel101’s hassle- free hotel unit ownership model.
Hotel101 is expected to further elevate the globally renowned Filipino brand of hospitality to each of the country where it eventually operates.
The company us currently on the ramp up toward building more Hotel101 developments in line with its vision of one million rooms in 100 countries worldwide.