Hotel101 plans footprint in 10 US states by 2026
DoubleDragon Corp. is doubling down on its expansion in the United States with plans to open Hotel101 locations in 10 states by 2026.
DoubleDragon, led by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, considers the United States as a “major market” in its goal to build one of the world’s biggest international hotel chains.
In a statement over the weekend, the developer said its overseas subsidiary Hotel101 Global Pte. Ltd joined the recent SelectUSA Investment Summit.
This is a program of the US Department of Commerce aimed at facilitating investments.
“Joining the Select USA Investment Summit made our plan to expand in the US market far more efficient and effective and it gave us more overall confidence in growing Hotel101 in the United States,” Sia said in a statement over the weekend.
Hotel101 plans to open its third overseas location in California in the United States after Madrid, Spain, and Niseko, Japan.
Property acquisition
It plans to acquire its first US property by the third quarter of 2023, the statement showed.
“We are delighted to be part of the Philippine delegation to the 2023 SelectUSA Investment Summit as the connections we have made this week have enabled us to significantly accelerate our process in selecting which of the ten states in the United States we should expand to first as well as giving us a direct line to the investment groups of the 50 US states,” said Hotel101 Global CEO Hannah Yulo-Luccini.
The company has yet to release details on the first 10 US states for expansion.
It previously outlined an aggressive growth strategy to bring Hotel101 to 25 countries by 2026.
Apart from the aforementioned locations, it will expand to the United Kingdom, United Arab Emirates, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France and China.
Hotel101 develops condotels, whose rooms are sold to individual investors and are managed by the company.
The business, which offers more affordable room rates, differentiates itself from competitors by offering uniform-sized rooms across all of its locations. INQ
