Latest news with #Hotel101
Forbes
5 days ago
- Business
- Forbes
Nasdaq Listing Fuels Philippine Hotel Magnate's Global Ambitions
This story is part of Forbes' coverage of Philippines' Richest 2025. See the full list here . The June SPAC listing of Hotel101 Global Holdings made history as the first Filipino-owned company to debut on the Nasdaq market. The Singapore-based hospitality arm of Philippine property developer DoubleDragon, set up by chairman and CEO Edgar Sia II together with his longtime business partner, fast food billionaire Tony Tan Caktiong (DoubleDragon's cochairman), operates what it calls 'condotels.' These are condos with standardized rooms—a compact 21-square-meter unit, including a kitchenette—which are presold while the properties are under construction and operated as hotels after completion. The investor is entitled to a 30% share of gross room revenue every month plus free stays. Hotel101 currently has 1,100 rooms in two such condo hotels in the Philippines, with three more under construction. Projects are underway in Japan and Spain with a site secured in Los Angeles. In May, Hotel101 announced a joint venture with Saudi investment firm Horizon Group to build 10,000 rooms across Saudi Arabia. Though its market cap of $850 million is well below its pre-listing valuation of $2.3 billion, the Nasdaq IPO takes Sia closer to his goal of making Hotel101 a globe-girdling brand—with 1 million hotel rooms in 100 countries by 2050.
Skift
01-07-2025
- Business
- Skift
Condo Hotel Brand Hotel101 Goes Public on Nasdaq
We have our first Filipino lodging stock trading in the U.S. as Hotel101, which went public via a merger with a SPAC. The DJIA jumped 400 points, but the Nasdaq was down 167, the S&P 500 was down 7 points and the 10-year treasury yield was up .05 to 4.25%. Lodging stocks were higher, however, led once again by SOND, up another 27%, while SVC was up 5% and a bunch of stocks were up 4%+. We have our first Filipino lodging stock trading in the U.S. as Hotel101, which went public via a merger with a SPAC, started trading today under the symbol HBNB. The stock was all over the place with a high of $4.17, a low of $2.75, and a close of $3.28. For more context, see Skift's article: Hotel101 in Weak IPO, Extends Travel SPAC Slump. Raymond James upgraded their rating on Hyatt Hotels to Strong Buy from Market Perform. With a $165 price target. Baird upped their price target to $148 from $146 but kept their Neutral rating. Homewood Suites Viera Melbourne, a brand-new 4-story, 131-room hotel is now open in Melbourne, Florida. The hotel is owned by Borrows West Suites Developers, LLC and managed by General Hotels Corporation. The all-suite property features an outdoor pool and patio, a fitness center, and electric vehicle charging stations. Hyatt Hotels Corporation announced plans for a luxury Park Hyatt hotel in the heart of downtown Vancouver, slated for 2026. The hotel, formerly Shangri-La Vancouver, is now operating as Hyatt Vancouver Downtown Alberni until a multi-million dollar redesign enhances and elevates the hotel's 112 guestrooms, residential-style lobby, public spaces, and spa, and the hotel joins the Park Hyatt brand. Following its rebranding to Park Hyatt, the hotel will become the first Park Hyatt hotel in Vancouver and the fifth Hyatt hotel in British Columbia. IHG Hotels & Resorts announced the opening of Candlewood Suites in Shelbyville, Kentucky. The newly built property offers 84 guestrooms, a fitness center, and an outdoor patio. Candlewood Suite Shelbyville is owned by Quadrant Fairway LLC and managed by HW Management. Nationwide Realty Investors announced renovations are nearing completion at the property known as Nationwide Hotel and Conference Center, located in Lewis Center, Ohio. In conjunction, the property will be rebranded to The Ohioan Hotel & Event Center later this summer. The newly completed event center renovations include renovated and modernized ballrooms, expanded and refined pre-function and post-function spaces, and a new private outdoor courtyard with multiple fireplaces. Additional renovations underway include updates to the 193 guestrooms and suites and the pub will also be given a refresh later this fall. The hotel remains open throughout the phased renovations. The property is managed by Columbus Hospitality Management. Namron Hospitality expands its portfolio of boutique luxury hotels with the debut of NEST Baja, located on the East Cape of Los Cabos where the Sea of Cortez meets the desert. In partnership with Giammarco, Namron Hospitality is leading the re-branding and transformation of the hotel under its acclaimed NEST brand. Formerly known as The White Lodge, the property is the second in the growing NEST Collection. This launch marks Namron's eleventh hotel in Mexico and its continued expansion across the country. NEST Baja joins the Design Hotels collection by Marriott International. With space for just 24 guests, the hotel offers 10 ocean-view suites and cottages with private rooftop decks, terraces with plunge pools, indoor fireplaces, and stargazing spots. Plans are underway to add 14 private villas. The resort features a signature ancestral spa, a new beach club, and culinary offerings. RESET Hotel announced its July 21 opening date. Located in Twentynine Palms, California, the full-service hotel features 65 guestrooms, each with private patios; a Clubhouse with co-working space, café, retail, and a communal fire pit; a bistro' saltwater pool + jacuzzi with lounge chairs and shaded cabanas; and saunas, cold plunges, yoga, breathwork and other programming. Hodges Ward Elliot announced the closing of the SpringHill Suites Phoenix West/Avondale. HWE represented the seller in the transaction. JLL's Hotels and Hospitality Group arranged a $54 million refinancing of Baron's Cove, a 67-room luxury boutique hotel in Sag Harbor, New York. JLL worked on behalf of the borrower, a partnership between Blue Flag Capital and Bain Capital Real Estate, to secure a three-year, floating-rate loan through Blue Owl Capital-managed funds. Baron's Cove features 67 guestrooms, a seasonal saltwater pool, lounge, wellness center, tennis court, and signature dining options. The financing package will be used for a comprehensive renovation scheduled to begin in October 2025. The seven-month project will enhance all aspects of the guest experience, including complete guestroom transformations, re-imagined public spaces, and upgraded exterior areas. The renovation will coincide with a strategic rebranding initiative and the introduction of elevated food and beverage concepts. Hilton announced the debut of Zemi Miches Punta Cana All-Inclusive Resort, Curio Collection by Hilton, representing the first Curio Collection all-inclusive resort in the Dominican Republic. The 500-room oceanfront resort offers 14 distinct dining venues, bars and lounges; enriching kids club programming; multiple pools and 2,000 feet of beachfront; as well as Club Azure, a premium category offering guestrooms, suites and bungalows with exclusive benefits and tailored experiences. The resort features more than 10,000 square feet of flexible indoor and outdoor event space, including six fully equipped meeting rooms and more than 10 unique venues, such as a theater. Recreational amenities include an outdoor theater with nightly entertainment, a locally curated retail shop, and a wide range of water activities from four sparkling pools and non-motorized watersports to two swim-up bars. Coming soon, teens will have their own space at the Palmchat Teens Club with additional amenities including a bowling alley, arcade, cinema, and a virtual reality escape room. The resort will also introduce fire pits, waterslides, pickleball, and paddleball courts. Later this year, Zemi Miches Punta Cana All-Inclusive Resort will unveil Arcana Spa & Wellness featuring 11 treatment rooms, including a bridal suite; a hydrotherapy circuit; a relaxation lounge; sauna and steam rooms; and private plunge pools. Wellness extends beyond the spa with a juice bar and a fitness center located in the mail building. Zemi Miches Punta Cana All-Inclusive Resort is owned by Zemi Hotels & Resorts, S.R.L. and managed by Hilton. Personnel News Neil Jacobs, CEO of Six Senses, announced he is stepping down after 13 years of leading the brand through a major expansion and its pre-pandemic acquisition by IHG. According to Jacobs, he is stepping away from leadership of the company and setting out on a new adventure. The Plasencia Group announced Jennifer Connell has joined the firm as Senior Vice President - Strategic Advisory, based in the Washington, D.C. area. In this role, Connell will lead strategic consulting engagements across branding, development planning, repositioning, and asset management. Most recently, Connell served as Global Brand Leader and Managing Vice President for Marriott's Premium Lifestyle Segment. Lark has hired Daniela Burga, as Vice President of Human Resources. Burga most recently served as Vice President of Human Resources at New Castle Hotels & Resorts. Overseas Highlights In mid-June, APA Holdings, the hotel ownership division of Tokyo-based APA Group, acquired 100% of the shares of Ishin Hotels Group for an undisclosed price. Ishin focuses on urban Japanese hotels. Sixteen of its 17 hotels are in the upper-midscale brand B Hotels. It also has one independent property, the 135-room Hotel Centmain Nagoya. APA has 47 hotels in the U.S. and Canada, 46 under the Coast Hotels brand and one under the APA flag, the 200-room APA Hotel Woodbridge in the Metropark Corporate Center in Iselin, New Jersey. Asset World Corp Public Company Limited (AWC), signed a long-term Green Loan agreement worth 7,904 million THB with Krungthai Bank. The Green Loan will be used for the development of the ultra-luxury flagship project, Hotel Plaza Athenee Nobu New York, located in the heart of Manhattan's prestigious Upper East Side. The Hotel Plaza Athenee Nobu New York is a collaboration between AWC and Nobu Hospitality. Sonesta International Hotels Corporation announced the execution of a strategic alliance with AKEN Hotels & Resorts LLC, a hotel group with a growing presence across South America and the Caribbean. This definitive agreement marks a pivotal moment in Sonesta's ongoing international growth strategy, with a concentrated focus on the high-potential Latin American region. Initially, six AKEN hotels are slated to ally with Sonesta, effective this fall, followed by more AKEN properties soon after. Europe Highlights TFE Hotels has officially launched its premium extended-stay brand, A by Adina, in Europe, marking a major milestone in the company's expansion strategy. The first European property, A by Adina Vienna Danube, opens in Austria's capital, offering a new level of luxury in apartment-style accommodations that combine independence with high-end hotel services. The European debut of A by Adina comes as TFE Hotels continues to strengthen its presence across the continent through its established Adina Hotels brand and its tech-enabled concept, MM:NT. A by Adina Vienna Danube delivers a gym, a yoga studio, a private heated infinity pool, member-exclusive wellness area that includes saunas and an infrared cabin, and an onsite restaurant and bar. W Hotels announced the opening of W Florence, a luxurious haven in the heart of the Tuscan capital. Housed in the former Grand Hotel Majestic, W Florence features 119 guestrooms, including 16 suites and one Penthouse; flexible meeting spaces; integrated indoor and outdoor spaces; multiple dining venues; a rooftop garden; W Lounge; an internal piazza; and the brand's signature gym, FIT. Hyatt Hotels Corporation announced the opening of Sarena de Muro Resort Mallorca, the first hotel under its Destination by Hyatt brand in Mallorca, Spain. The resort is situated on Playa de Muro, adjacent to S'Albufera Natural Park, and features 184 guestrooms and suites; four dining venues; wellness facilities, including the Sarena Spa; two pools, one with direct beach access; and a fitness center.
Skift
01-07-2025
- Business
- Skift
Hotel101 in Weak IPO, Extends Travel SPAC Slump
Hotel101 plans to operate 1 million rooms across 100 countries, which seems ambitious for a company that just saw its market cap get cut by two-thirds on day one of public trading. But hey, dream big. Hospitality company Hotel101 went public on the Nasdaq stock exchange but saw weak demand from public investors as it debuted under the symbol HBNB. Late last month, the Filipino firm Hotel101 received approval to go public through a merger with a special purpose acquisition company, JVSPAC. Yet individual investors fled, with JVSPAC shares tumbling over 60%, from $9.75 on June 24 to about $3.50 before the merger. Hotel101 debuted at $3.64 and closed nearly 10% below that, at $3.28. The IPO prospectus had estimated that the company's "deemed equity value at closing" would be $2.3 billion, assuming a share price of $10. Howev
Nikkei Asia
01-07-2025
- Business
- Nikkei Asia
Jollibee founder-affiliated Hotel101 to debut on Nasdaq on Tuesday
Trading in Hotel101 shares is set to start on July 1, after completing a merger with JVSPAC Acquisition, a Nasdaq-listed special purpose acquisition company. (DoubleDragon) RAMON ROYANDOYAN MANILA -- Hospitality and prop-tech firm Hotel101 is set to start trading on the Nasdaq on Tuesday, a first for a Philippine company. Hotel101 is a subsidiary of Philippines-listed property firm, DoubleDragon. The company on June 27 secured approval to list its shares on the Nasdaq Stock Exchange under the ticker symbol "HBNB."
UAE Moments
29-06-2025
- Business
- UAE Moments
Hotel101 Becomes First-Ever Filipino Company to Join Nasdaq
The hospitality tech brand, under the umbrella of DoubleDragon Corporation, was listed on June 27, 2025, with shares set to begin trading under the ticker symbol HBNB starting July 1. The milestone follows its successful business combination with JVSPAC Acquisition Corp. (JVSA), approved just days earlier. To celebrate, co-founders Edgar 'Injap' Sia II and Tony Tan Caktiong (yes, the Jollibee legend himself) led the Opening Bell ceremony at Nasdaq's New York headquarters, marking a proud moment not just for their brand — but for Filipino entrepreneurship on the global stage. "This is a historic moment for DoubleDragon... and we're just getting started," said Sia. "We aim to redefine the industry and become a leading global hospitality brand." What Is Hotel101 and Why Is It Different? Described as a 'one-room hotel concept for the world,' Hotel101 is built on a prop-tech, asset-light model that's designed for scale. Think Airbnb's flexibility meets Marriott's consistency — with a tech twist. Each Hotel101 property is composed of pre-sold, standardized units that generate revenue upfront and continue to earn through daily bookings post-construction. CEO Hannah Yulo-Luccini called it a 'revolutionary idea' and reaffirmed Hotel101's goal of hitting 1 million rooms across 100 countries — an ambitious move that now feels more tangible than ever. A Pipeline Packed With Global Potential Hotel101 already has two operating properties in the Philippines, with many more in the pipeline — and the expansion is anything but local: Spain: Hotel101-Madrid (680 rooms) opens December 2025, next to the new Formula 1 track in Valdebebas. Saudi Arabia: Plans for 10 hotels under a joint venture with Horizon Group, aligning with Vision 2030. Japan: Hotel101-Niseko (482 rooms) is already under construction in Hokkaido. United States: Land secured in Los Angeles, marking its U.S. entry. Worldwide: Active negotiations are underway in five additional markets. Why This Listing Matters Hotel101's Nasdaq debut puts it on the global map — not just as a hospitality company, but as a tech-driven real estate innovator. The model, dubbed 'condotel,' blends hotel stays with unit ownership, attracting both travelers and investors. More importantly, it signals a growing trend: Filipino-founded brands going global, not just through food chains or call centers — but through bold, tech-powered platforms. From Manila to Madrid and now Nasdaq, Hotel101's journey is just beginning — and if its ambitions are any indication, the next Filipino unicorn might already be here.
