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2 weeks Ago
DoubleDragon Corp.'s subsidiary on Wednesday said it expects to hit 1 million users in its Global App this year, as the company targets to exceed 100 million registered users over the long term, with 1 million in every country it operates in. According to Hotel101, its Global App hit the 500,000 registered users milestone as of October 30, and expects to exceed 1 million users by the end of the year.
The Nasdaq-listed firm is then projected to capture at least 1 million users each from the first batch of countries it has presence in over the near term — the Philippines, Spain, Japan, and the United States. “Eventually our goal is for the Hotel101 Global App to have over 1 million registered users in every country where Hotel101 operates,” DoubleDragon chairman Edgar “Injap” Sia II said in an emailed statement. Hotel101 broke ground for its development in Madrid, Spain in March, following the completion of a 6,593-square-meter prime commercial land in October 2023.
This is one of the first three overseas developments of the company, aside from one in Niseko, Hokkaido, Japan , and another in Los Angeles, California, in the United States. These are projected to generate $471-million in foreign currency inflows, and jumpstart Hotel101’s expansion to other areas, as it targets to accumulate a portfolio of 1 million rooms in 101 countries before 2050. The Philippines will account for 50,000 keys.
“By next year, we intend to complete Hotel101-Madrid and we would start to build up HBNB App users towards another 1 million from the citizens of Spain, to be followed by another million users from Japan in 2026 then United States,” Sia said. Hotel101 then seeks to onboard 1 million users from citizens of other expansion areas being looked at such as the United Kingdom, the United Arab Emirates, India, China, Thailand, Malaysia, Vietnam, Indonesia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France, and Saudi Arabia. Hotel101 has an average of 500 rooms per site, with the typical unit coming with prefabricated toilets and standardized flat-pack furniture with the same type of bulb used throughout the whole building.
It is expected to get 95% of its revenues outside of the Philippines, which will then be consolidated back to its ultimate parent, DoubleDragon. DoubleDragon’s business segments include retail leasing, office leasing, industrial leasing, and hospitality. Its subsidiaries include CityMall Commercial Centers Inc.
, CentralHub Industrial Centers Inc., DDMP REIT Inc., and Hotel of Asia Inc.
—AOL, GMA Integrated News.
