Hotel101 opens Madrid hotel

MANILA, Philippines — Hotel101 Global Holdings Corp., the Nasdaq-listed subsidiary of DoubleDragon Corp., has officially opened its first European project, the 680-room Hotel101-Madrid in Spain.

DoubleDragon said the opening represents a milestone for the company, making history as the first-ever Filipino homegrown hotel brand to operate overseas.

Hotel101-Madrid, which is one of the five largest hotels in Spain, features its signature “HappyRoom” units and delivers four-star amenities at affordable prices.

The hotel is strategically located just minutes from Madrid-Barajas International Airport, across the train station and close to the largest convention complex in Spain.

It is positioned to serve both leisure and business travelers seeking modern, affordable and high-quality accommodations in Spain’s capital.

DoubleDragon said the hotel is an ideal base for visitors attending world-class events and business meetings and enjoying tourism in Madrid.

“The hotel is now operational and will begin generating recurring revenue, forming a key part of Hotel101 Global’s global expansion strategy,” DoubleDragon said.

Customers can now book a room at Hotel101-Madrid via the Hotel101 App or via several hotel booking platforms.

Hotel101 is an asset-light, prop-tech hospitality platform pioneering a global standardized “condotel” business model.

It seeks to disrupt the global hotel and hospitality sector through its tech-enabled business model, positioning it to generate revenue twice: first from the advance sale of individual hotel units during the construction phase and second from long-term, recurring revenue from day-to-day hotel operations.

Hotel101 Global’s US listing last year was seen as opening new doors for the company to tap into the deep, broad pool of capital in the US.

The company aims to operate one million rooms across 100 countries worldwide under its global growth strategy.

The expansion of Hotel101 toward its long-term goal of operating one million rooms in 100 countries worldwide is expected to be driven mainly by joint ventures and license agreements with local developers in various countries.