Hotel101 Global officially lists on NASDAQ
Philippine asset-light hospitality administration agency Hotel101 International Holdings Company formally obtained approval to listing on the Nasdaq Inventory Change in the US.
The corporate’s shares are set to start buying and selling on Tuesday, 1st July, and the corporate celebrated the itemizing by ringing the Opening Bell right now, twenty eighth June.
Buying and selling is scheduled to start beneath the ticker image HBNB following the anticipated completion of Hotel101’s enterprise mixture with JVSPAC Acquisition Company, which was permitted by shareholders on Tuesday, twenty fourth June.
With a deemed fairness worth at closing of US$2.3 billion, Hotel101 is the primary Filipino-owned firm to be listed and traded on the Nasdaq.
A noteworthy milestone
In keeping with Hotel101 International chief government Hannah Yulo-Luccini: “Right this moment is an thrilling milestone in Hotel101’s journey to turn into the world’s first actually international one-room resort chain. Hotel101 was born from a easy, revolutionary concept: a ‘one room’ international resort model delivering constant consolation and irresistible worth worldwide. Our asset-light, technology-driven platform positions us to scale quickly, with a aim to disrupt the hospitality business globally with 1 million rooms throughout 100 international locations.”
Likewise, Edgar “Injap” Sia II, chair and CEO of Hotel101’s father or mother firm DoubleDragon Company, declared: “This can be a historic second for DoubleDragon, changing into the first-ever Filipino firm with a subsidiary listed and traded on the Nasdaq. It displays the power of our imaginative and prescient and the dedication of everybody who has helped carry Hotel101 to this international stage. And we’re simply getting began – with a globally scalable mannequin and a protracted runway forward, we purpose to redefine the business and turn into a number one international hospitality model working in direction of our imaginative and prescient of a list of 1 million Hotel101 rooms globally.”
Asset-light, success-heavy
Hotel101’s administration believes that Hotel101 properties are environment friendly to construct, keep, function, in addition to scale and broaden by way of direct growth, three way partnership partnerships, and franchise preparations.
Constructing on the success of Hotel101-branded properties within the Philippines, the place there are two working properties and a quantity beneath growth, Hotel101 intends to speed up its international enlargement plans.
For instance, Hotel101-Madrid, a 680-room growth adjoining to the brand new Method 1 Spanish Grand Prix Circuit in Valdebebas, is slated for completion in December of this yr.
Earlier this month, Hotel101 signed a 10-year settlement with an affiliate of MATCH Hospitality AG, making it an official resort associate of the F1 Spanish Grand Prix from 2026 to 2035.
Simply final month, Hotel101 additionally finalised an settlement with Saudi Arabia’s Horizon Group to ascertain a three way partnership for the event of as much as ten inns in Saudi Arabia.
The partnership underscores Hotel101’s confidence within the Kingdom’s dynamic tourism market, one of many fastest-growing globally beneath Imaginative and prescient 2030.
Building can also be underway for Hotel101-Niseko, a 482-room property in Hokkaido’s foremost winter sports activities vacation spot; and the corporate has even secured a website in Los Angeles, California, marking its entry into the US market.
In parallel, Hotel101 is actively pursuing 5 extra joint ventures, additional advancing its aim of creating a presence in 25 precedence markets within the medium time period.