Latest news with #JVSPAC
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
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.
GMA Network
28-06-2025
- Business
- GMA Network
Hotel101 Global shares to begin Nasdaq listing on July 1
Hotel101 Global Pte Ltd., the Singapore-headquartered subsidiary of DoubleDragon Corp., on Saturday announced that its shares are set to begin trading on Nasdaq Stock Exchange on July 1, 2025. IHotel101 Global said it celebrated its US public listing by ringing the opening bell on Nasdaq on June 27, as the company became the first Filipino firm to be listed and traded on the New York-based bourse. 'This is a historic moment for DoubleDragon, becoming the first-ever Filipino company with a subsidiary listed and traded on the Nasdaq. It reflects the strength of our vision and the dedication of everyone who has helped bring Hotel101 to this global stage," said DoubleDragon chairman Edgar 'Injap' Sia II "And we're just getting started – with a globally scalable model and a long runway ahead, we aim to redefine the industry and become a leading global hospitality brand working towards our vision of an inventory of 1 million Hotel101 rooms globally,' he added. The listing came after it had secured the approval of the United States Securities and Exchange Commission (SEC). The company's shares will be traded under the ticker symbol 'HBNB.' Hotel101 Global's Nasdaq listing was on the heels of its business combination or merger with JVSPAC Acquisition Corp., approved by JVSPAC shareholders on June 24, 2025. As a result, Hotel101 will be worth $2.3 billion or P130 billion. Listed on the Nasdaq, JVSPAC is a blank check company led by its chairman and chief executive officer Albert Wong, who has been the chief executive officer and director of Kingsway Group Holdings, the sole distributor of Lamborghini in Hong Kong, Macau, and Guangzhou. Kingsway is also the lone distributor of Koenigsegg Automotive, Rimac Automobili, and Bugatti Automobiles for China, including Hong Kong and Macau. —Ted Cordero/ VAL, GMA Integrated News
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
02-06-2025
- Business
- Yahoo
Philippines' DoubleDragon subsidiary Hotel101 progresses towards Nasdaq listing
SINGAPORE (Reuters) -Hotel101 Global Holdings Corp and Nasdaq-listed special purpose acquisition company JVSPAC Acquisition Corp 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. 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
