Latest news with #Hotel101Global
Reuters
06-06-2025
- Business
- Reuters
Nasdaq-bound Hotel101 eyes expansion into Latin America, Oceania, CEO says
SINGAPORE, June 6 (Reuters) - Hotel101 Global, a unit of Philippine-listed real estate company DoubleDragon ( opens new tab, is looking to expand into Latin America and Oceania in addition to growing its presence in existing regions including Asia, its CEO Hannah Yulo-Luccini told Reuters on Friday. Last month, Hotel101 entered into a partnership with Saudi Arabia-based Horizon Group to build 10,000 rooms or 20 hotels across the Kingdom, marking its fourth destination outside of the Philippines and after Japan, Spain and the U.S. CONTEXT Hotel101 is due to list on Nasdaq following a merger with a Nasdaq-listed special purpose acquisition company JVSPAC Acquisition Corp (JVSA.O), opens new tab that puts Hotel101 equity value at $2.3 billion. Both companies on Monday had obtained regulatory nod to proceed. JVSPAC is a publicly listed shell that raises funds to merge with a private entity. WHY IS IT IMPORTANT Upon listing, the combined company will operate as Hotel101 and will become the first Philippine-owned company to be listed and traded on Nasdaq, which the CEO says will help it with its international expansion. DETAILS Singapore-headquartered Hotel101 builds and operates hotels with standardized, 21 square metre rooms that it sells individually to investors. Its asset-light business model generates revenue first from room sales and then from the recurring income from day-to-day hotel operations. KEY QUOTES: "This whole process of becoming a Nasdaq-listed company has really allowed us to really have that global credibility as we expand the brand to 25 countries in the near term," Yulo-Luccini said. "Other than the Saudi JV, we're actually working on five more hotel JVs."
Reuters
02-06-2025
- Business
- Reuters
Philippines' DoubleDragon subsidiary Hotel101 progresses towards Nasdaq listing
SINGAPORE, June 2 (Reuters) - Hotel101 Global Holdings Corp and Nasdaq-listed special purpose acquisition company JVSPAC Acquisition Corp (JVSA.O), opens new tab said on Monday they had obtained a regulatory nod to proceed with a business combination agreement. They said in a statement that the U.S. Securities and Exchange Commission had declared effective Hotel101's registration statement on form F-4 filed with the SEC in connection with the business tie-up. JVSPAC is a publicly listed shell that raises funds to merge with a private entity. Hotel101 is the hotel arm or subsidiary of Philippines-listed DoubleDragon ( opens new tab. The business combination values Hotel101 at an equity value of $2.3 billion, according to the statement. Upon listing, the combined company will operate as Hotel101 and will become the first Philippine-owned company to be listed and traded on Nasdaq, the statement showed. JVSPAC said that it has scheduled an extraordinary general meeting of shareholders on June 24 to vote on the proposed business combination with Hotel101.
Yahoo
28-03-2025
- Business
- Yahoo
Hotel101 IPO? 6 Facts About the Hotel Condo Brand's Planned SPAC
Hotel101 Global, a subsidiary of the Philippines-based real-estate company DoubleDragon, known for its popular Philippine fast-food chain, Jollibee, is still hoping for an IPO through a merged special-purpose acquisition company (SPAC). In April 2024, Hotel101 Global and JVSPAC Acquisition Corp. signed a merger agreement, and in January, the two said they submitted a filing to the U.S. Securities and Exchange Commission. The companies haven't announced a date for an IPO and declined requests for an interview. But on March 11, Hotel101 Global CEO Hannah Yulo-Luccini spoke at the MIPIM real-estate conference in Cannes where she reiterated the company's ambition to complete the SPAC transaction by mid-year. A SPAC, also known as a 'blank-check company,' is a shell company that raises capital for an IPO and then merges with a private company to go public. This method avoids the usual difficult vetting process to become listed. Recent travel SPACs have not fared well. In 2024, travel agent booking platform Mondee delisted from the Nasdaq, and its CEO took a leave of absence. Travel lodging company Sonder replaced its CEO and has faced delisting, though it continues to trade on the Nasdaq. However, Amex GBT went public via a successful $5.3 billion SPAC deal in 2021. Here's what we know about the potential deal: Hotel101 pegs its IPO value at $2.3 billion. It expects the SPAC to happen in the first half of 2025, pending regulatory and shareholder approval. The company will trade under the ticker symbol HBNB. The JVSPAC Acquisition Corp. currently has about $82 million in assets, according to Bloomberg. Hotel101 calls itself a 'condominium hotel.' It sees itself as combining short-term rental platforms, like Airbnb, where third parties own the inventory, but offering the standardization and efficiency of a traditional hotel, like Sonder, Placemakr, Homes and Villas by Marriott Bonvoy, and Accor's OneFineStay. The hotel rooms are owned by individual owners but managed and maintained by Hotel101. Unit owners pay property and income tax and receive 30% of gross room revenue monthly. They receive 10 free stays a year. Hotel101 only has three open properties, all in Manila. It seeks to have properties in 25 countries "by 2026." The brand is building its first overseas properties now. One is a 680-room hotel in Madrid in the Valdebebas area close to Real Madrid's football complex. The other is a 482-room hotel in Hokkaido, Japan. It has eight other hotels in development in Asia Pacific. Hotel101 said it intends to build its first U.S. location in Los Angeles. DoubleDragon, the current owner of Hotel101 Global, is a diversified real estate company publicly traded on the Philippine Stock Exchange. As of June 2023, it had about $3 billion in assets and 1.2 million square meters of office, retail, and industrial assets. In the first nine months of 2024, DoubleDragon reported about $44 million in net income and about $111 million in revenue. According to S&P Capital IQ, its debt-to-asset ratio was about 39% at the end of last year. Hotel101's founders are Edgar 'Injap' J. Sia II and Tony Tan Caktiong, who founded Mang Inasal and Jollibee, respectively. Hotel101's app has one million registered users already, the company said. For more on the company, see JVSPAC's filings with the U.S. SEC, the Hotel101 site, and the DoubleDragon site. What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more hotels and short-term rental financial sector performance. Read the full methodology behind the Skift Travel 200. Get breaking travel news and exclusive hotel, airline, and tourism research and insights at Sign in to access your portfolio
