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Filipino Times
28-06-2025
- Business
- Filipino Times
Hotel101 becomes first Filipino-owned company listed on Nasdaq
Hotel101 Global Holdings Corp. has become the first Filipino-owned company approved to be listed and traded on the Nasdaq Stock Exchange in New York. The company celebrated this milestone by ringing the Nasdaq Opening Bell. Hotel101 shares are scheduled to begin trading on July 1, 2025, under the ticker symbol $HBNB. The listing follows the completion of its business combination with JVSPAC Acquisition Corp. (Nasdaq: JVSA), which was approved by JVSPAC shareholders on June 24, 2025. With a deemed equity value of US$2.3 billion, the listing marks a historic first for any Philippine-owned company on the Nasdaq. Hotel101 is a subsidiary of Philippine-listed DoubleDragon Corporation (PSE: DD). Hotel101 Global is described as an asset-light, prop-tech hospitality platform business built for rapid global expansion. The model features standardized hotel rooms and combines hospitality with property technology. The company's long-term vision is to build one million hotel rooms in 100 countries, aiming to offer a seamless travel experience across borders. Its listing on Nasdaq opens more doors for international growth and investor visibility. DoubleDragon's leadership posted on social media: 'A First Time Ever FILIPINO Moment in History today at the U.S. NASDAQ stock exchange in New York!'—highlighting pride in this landmark achievement.
Cision Canada
27-06-2025
- Business
- Cision Canada
HOTEL101 GLOBAL RECEIVES APPROVAL TO LIST ON NASDAQ UNDER "HBNB"
Celebrated Public Listing by Ringing the Opening Bell Today at the Nasdaq Stock Exchange SINGAPORE, June 27, 2025 /CNW/ -- Hotel101 Global Holdings Corp. ("Hotel101" or "HBNB"), an asset-light, prop-tech hospitality platform business designed for rapid global growth, announced that it has received approval to list on the Nasdaq Stock Exchange, and its shares are set to begin trading on July 1, 2025. Hotel101 celebrated its U.S. public listing by ringing the Opening Bell today. Trading is scheduled to commence under the ticker symbol "HBNB" following the expected completion of Hotel101's business combination with JVSPAC Acquisition Corp. (Nasdaq: JVSA), which was approved by JVSPAC shareholders on June 24, 2025. With a deemed equity value at closing of US$2.3 billion, Hotel101 is the first Filipino-owned company to be listed and traded on the Nasdaq. Hotel101 is a subsidiary of Philippine-listed DoubleDragon Corporation (PSE: DD). The ceremony can be viewed at and on the Nasdaq MarketSite Tower in Times Square. Hannah Yulo-Luccini, CEO of Hotel101, said: "Today is an exciting milestone in Hotel101's journey to become the world's first truly global one-room hotel chain. Hotel101 was born from a simple, revolutionary idea: a 'one room' global hotel brand delivering consistent comfort and irresistible value worldwide. Our asset-light, technology-driven platform positions us to scale rapidly, with a goal to disrupt the hospitality industry globally with 1 million rooms across 100 countries." Edgar "Injap" Sia II, Chairman and CEO of DoubleDragon Corporation and Founder of Hotel101, said: "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. 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." Accelerating global expansion Hotel101's management believes that Hotel101 properties are efficient to build, maintain, and operate – as well as scale and expand through direct development, joint venture partnerships, and franchise arrangements. Building on the success of Hotel101-branded properties in the Philippines – where there are two operating properties and a number under development – Hotel101 intends to accelerate its global expansion plans. Hotel101-Madrid, a 680-room development adjacent to the new Formula 1 ("F1") Spanish Grand Prix Circuit in Valdebebas, is slated for completion in December 2025. Earlier this month, Hotel101 signed a 10-year agreement with an affiliate of MATCH Hospitality AG, making it an official hotel partner of the F1 Spanish Grand Prix from 2026 to 2035. In May 2025, Hotel101 signed an agreement with Saudi Arabia's Horizon Group to, subject to additional contract, establish a joint venture for the development of up to 10 hotels in Saudi Arabia. The partnership underscores Hotel101's confidence in the Kingdom's dynamic tourism market, one of the fastest-growing globally under Vision 2030. Construction is underway for Hotel101-Niseko, a 482-room property in Hokkaido, Japan. The company has also secured a site in Los Angeles, California, marking its entry into the U.S. market. In parallel, Hotel101 is actively pursuing five additional joint ventures, further advancing its goal of establishing a presence in 25 priority markets in the medium term. Hotel101's unique business model Hotel101's management believes that Hotel101's global "one room" hotel chain model is poised to disrupt the hospitality industry by offering identical, standardized hotel rooms globally. In standardization, Hotel101 sees a global opportunity in the hospitality space that brings enhanced efficiency, especially for the value segment, enabling customers to know exactly what to expect whenever they stay at a Hotel101 property. With identical hotel units, Hotel101 streamlines development, operations, and guest experiences. Hotel101's proprietary app, which has over 1 million registered users, serves as a centralized platform for reservations, guest services, and loyalty programs. It adopts dynamic pricing for room rates and offers self-check in, made efficient by the availability of just one type of room. Hotel101 expects to set a new standard for efficiency, predictability, and scalability, creating sustained value for customers globally. Hotel101's asset-light 'condotel' prop-tech business model is designed to scale efficiently while maximizing value for both unit owners and guests. Hotel101 generates revenue twice: first, from the pre-selling of individual hotel units during the construction phase; and second, from long-term recurring revenue derived from day-to-day hotel operations following completion of the units. By pre-selling standardized hotel units, Hotel101 generates upfront capital to fund new developments and expand rapidly. Its long-term management contracts with unit owners create a stable and recurring revenue stream. Hotel101 aims to bridge the gap between traditional hotels and fragmented hospitality marketplaces. Unlike traditional hotel chains that require significant capital investment to scale or marketplace aggregators that lack consistency and branding, Hotel101's model provides individual condominium unit owners with direct hotel unit ownership while maintaining the brand consistency and professional management of a global hotel chain. Hotel101's management believes that its properties will also receive arguably higher acceptance in the communities where they operate as all Hotel101 properties are purposely built as hospitality assets. About Hotel101 Global Holdings Corp. Headquartered in Singapore, Hotel101 is an asset-light, prop-tech hospitality platform pioneering a global standardized "condotel" business model. Hotel101 aims to disrupt the global hotel and hospitality sector through its unique tech-enabled business model that positions it to generate revenues twice: first from the advance sale of individual hotel units during the construction phase; and second, from long-term recurring revenue derived from day-to-day hotel operations. Hotel101 and its affiliates have nine Hotel101-branded properties in the Philippines in various stages of operations and development, as well as three projects under development overseas in Hokkaido (Japan), Madrid (Spain), and Los Angeles (United States). In May 2025, Hotel101 signed an agreement with Saudi Arabia's Horizon Group to, subject to additional contract, establish a joint venture for the development of up to 10 hotels in Saudi Arabia. Hotel101 aspires to operate 1 million rooms across 100 countries worldwide, with an initial 25 identified priority countries for the medium term. Hotel101 is a subsidiary of Philippine-listed DoubleDragon Corporation (PSE: DD). For more information, visit About DoubleDragon Corporation DoubleDragon Corporation currently has total assets of approximately US$4 billion, with a portfolio that spans over one million square meters of gross floor area principally from provincial community malls, a string of office buildings, a chain of industrial warehouse complexes and its chain of hotels. DoubleDragon Corporation has been listed on the Philippine Stock Exchange since 2014 and is controlled by two entities that own a combined 70% majority stake: Injap Investments Inc., which is a private family holding company led by Filipino Entrepreneur Edgar "Injap" Sia II, who is also the Chairman of MerryMart Consumer Corp, and Founder of Mang Inasal, one of the largest QSR fast food chains in the Philippines which is now under Jollibee Foods Corp.; and Honeystar Holdings Corp., which is a private family holding company led by Filipino Entrepreneur Tony Tan Caktiong, who is also the Chairman and Founder of the global QSR fast food chain Jollibee Foods Corp. Jollibee is the largest fast food QSR company in the Philippines and one of the largest globally through its portfolio of food brands with over 9,900 branches worldwide. Jollibee Foods Corp. currently has a market capitalization of over US$4.3 billion. About JVSPAC Acquisition Corporation JVSPAC Acquisition Corporation is a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Forward Looking Statements This press release includes "forward-looking statements" which may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the estimated equity value of the combined company, Hotel101's ability to scale and grow its business, the advantages and expected growth of the combined company, the combined company's ability to source and retain talent, the cash position of the combined company following closing of the Transaction, JVSPAC's and Hotel101's ability to consummate the Transaction, and expectations related to the terms and timing of the Transaction, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of JVSPAC's and Hotel101's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of JVSPAC and Hotel101. These forward-looking statements are subject to a number of risks and uncertainties, including the ability of JVSPAC and Hotel101 to successfully or timely consummate the proposed Transaction, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed Transaction; failure to realize the anticipated benefits of the proposed Transaction; the combined company's ability to execute on its business model, potential business expansion opportunities in foreign countries and growth strategies, retain and expand customers' use of its hotel services and attract new customers, and source and maintain talent; risks relating to the combined company's sources of cash and cash resources; risks relating to Hotel101's business; risks relating to the combined company's vulnerability to security breaches; risks relating to the combined company's ability to manage future growth; the effects of competition on the combined company's future business; the amount of redemption requests made by JVSPAC's public shareholders; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries involving the parties to the Transaction; the impact of the COVID-19 pandemic on Hotel101's or the combined company's business and the global economy; and those factors discussed in JVSPAC's final prospectus related to its initial public offering dated January 18, 2024, under the heading "Risk Factors," in JVSPAC's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 under the heading "Risk Factors" filed with the SEC on March 11, 2025 and other documents filed, or to be filed, by JVSPAC with the SEC. If any of these risks materializes or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither JVSPAC nor Hotel101 presently knows or that JVSPAC and Hotel101 currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect JVSPAC's and Hotel101's expectations, plans or forecasts of future events and views as of the date of this press release. JVSPAC and Hotel101 anticipate that subsequent events and developments will cause JVSPAC's and Hotel101's assessments to change. However, while JVSPAC and Hotel101 may elect to update these forward-looking statements at some point in the future, JVSPAC and Hotel101 specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing JVSPAC's and Hotel101's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. No Offer or Solicitation This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The HBNB shares have not been offered, listed or registered in the Philippines with the Philippine Securities and Exchange Commission. Any future offer or sale thereof in the Philippines will be subject to registration requirements under the Philippine Securities Regulation Code unless such offer or sale in the Philippines qualifies as an exempt transaction. Brunswick Group -
Yahoo
06-06-2025
- Business
- Yahoo
Chime Is Planning to IPO at an $11.2 Billion Valuation. 3 Things Investors Need to Know -- Is the Stock a Buy?
After years of investor speculation about when digital bank Chime would go public, it's finally preparing to do so. With a set of low-cost banking products, Chime caters to segments of the U.S. population that have been underbanked or unbanked. These 10 stocks could mint the next wave of millionaires › After years of anticipation, Chime is planning to go public at an $11.2 billion valuation in an offering that will attempt to raise $832 million of capital. Chime, which will list on the Nasdaq Stock Exchange under the ticker "CHYM," will issue as many as 32 million shares at an initial price that is expected to be between $24 and $26 per share, although things could change after management does its "road show," during which it will pitch itself to potential investors to try and drum up excitement. Chime has positioned itself as a more accessible bank for Americans earning up to $100,000. While the once-lofty valuations of many fintech companies have come down considerably the last couple of years, the promise of deregulation under the Trump administration could provide some tailwinds for the sector. Here are three things investors should know about Chime and whether the stock is a buy. While the terms "unbanked" and "under-banked" are interestingly not mentioned in the company's registration statement, Chime rose to prominence by catering to Americans in those categories. Unbanked refers to people who do not use a bank or financial institution. Underbanked refers to people who may have traditional banking accounts, but who also often end up using less-mainstream options such as check-cashing services and payday lenders, which charge considerably more for their services than traditional financial institutions. Chime tried to change the game for these underserved populations by offering low-cost bank accounts, early access to direct-deposit money, fee-free overdraft protection up to $200, secured credit cards with no annual fees, late fees, or interest on missed payments, and other savings and perks. Getting people who are underserved by traditional banks into such products helps them improve their credit scores as well. Chime has partnered with several banks with federal deposit insurance coverage to undergird its operation. All of its products are bundled into a sleek tech platform and a powerful app, where applicants can sign up easily online, access more than 45,000 ATMs with no fees, and take advantage of other customizable features to better manage their finances. Its offerings have proved compelling. Chime now has 8.6 million active members, defined as people who have initiated one transaction to move money on Chime in the past calendar month. Management also reported that 67% of its active members use Chime as their primary banking relationship, which it defines as making at least 15 purchases with their Chime-branded debit or credit cards in the past calendar month, or who had at least one qualifying direct deposit of $200 or more in the past calendar month. Since 2022, Chime's annual revenue has significantly increased and is now starting to sniff profitability. In 2024, it generated $1.67 billion in revenue and booked a roughly $25.3 million net loss. Revenue increased nearly 31% year over year, while its losses narrowed The company generated profit in the first quarters of both 2024 and 2025. The first quarter is believed to be the best seasonal period for Chime. Chime is different from a traditional bank in that interest-rate spread revenue from lending is not a key component of its business. Rather, the majority of revenue comes from the interchange fees it earns when customers use their debit and credit cards. This is more efficient from a capital perspective, but it requires a lot of volume for the model to work profitably. Payments revenue in 2024 made up 76% of total revenue; the remainder came from platform-related revenue, which consists of fees on ATMs used outside of the company's network, fees for providing liquidity in advance, fees on deposits net of interest paid to members, and third-party affiliate revenue. One thing investors might not be so crazy about is the amount of money Chime has been spending on marketing: Its sales and marketing outlay was close to $520 million in 2024. However, management said that it estimates the average yearly cost to serve a retail deposit customer at one of the three largest banks in the U.S. is three times higher than Chime's cost, and for mid-sized and regional banks, it's five times higher. With most of its revenue coming from interchange fees, one key way that Chime can grow is by adding new members and increasing the payment volume on its various branded cards. Looking at the number of people in the U.S. who earn less than $100,000 a year and multiplying that by its current average revenue per active member, Chime estimates that its serviceable addressable market is worth $86 billion. By rolling out new products to meet the financial needs of its target customers, Chime thinks it can increase that to $312 billion. Chime also says it plans to stick with its asset-light model, which likely means that it doesn't plan to expand too much into the lending arena. Interestingly, the company has developed a proprietary cloud-native payment processor and ledger called ChimeCore to process some of its payments, transfers, deposits, withdrawals, and other financial transactions. This in-house system will allow Chime to spend less on legacy system maintenance and more on product innovation. It also gives the company more autonomy and the ability to roll out new products more quickly than if it outsourced payment processing. There is a lot that impresses me about Chime, starting with the number of active members who use it as their primary bank. Its technological capabilities are another big plus, especially when you think about ChimeCore, which is certainly ahead of what many traditional banks are doing. It has also increased revenue rapidly and seems to be on the brink of profitability. Some of the drawbacks I see are the high level of marketing spending and its reliance on lower-cost customers. While Chime has done a good job of serving this segment and innovating, it's hard to make a lot of money from this group, especially without lending. That leads me to my next question: Where does Chime go next? Sure, it has a strong brand and has increased its membership rapidly, but how does it continue to stand out? For instance, Chime was one of the first to offer advanced access to funds from pending paychecks, but now, most banks do it. Interchange revenue is good in that it's capital-efficient, but the downside is it relies on continued growth and can take a hit if consumer spending declines, which it would in a recession. The $11 billion valuation the company is seeking feels a bit rich right now. But the stock could become compelling if its valuation declines a bit, if Chime's cost to acquire members falls, or if the bank introduces interesting new products that could materially drive revenue higher. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $368,035!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $38,503!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $668,538!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of June 2, 2025 The Motley Fool has a disclosure policy. Chime Is Planning to IPO at an $11.2 Billion Valuation. 3 Things Investors Need to Know -- Is the Stock a Buy? was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
13-05-2025
- Business
- Yahoo
Fintech Chime files for U.S. IPO
-- Chime, a financial technology and digital banking startup, has filed for an initial public offering (IPO) in the U.S., according to a regulatory filing on Tuesday. This move comes on the heels of a sharp recovery in the markets over recent progress in trade talks. Chime achieved a valuation of $25 billion in August 2021 during a fundraising round. The company, however, has not revealed the sizing, valuation, and proposed pricing range for the planned offering. The startup plans to trade on the Nasdaq Stock Exchange using the ticker symbol "CHYM". A syndicate of Wall Street investment banks, led by Morgan Stanley, Goldman Sachs, and J.P. Morgan, has been enlisted to underwrite the offering. Related articles Fintech Chime files for U.S. IPO Northland initiates CoreWeave coverage with Outperform rating, sees $80 PT Airbnb expands offerings with new services, experiences, and redesigned app 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
Yahoo
16-04-2025
- Business
- Yahoo
Is the Stock Market Open on Friday?
The US stock market is closed Friday in observation of Good Friday. Bond trading will conclude at 2 p.m. on Thursday and remain paused until Monday. Stock and bond trading is slated to break again on Memorial traders will have some extra time off this weekend. The US stock market is closed Friday in observation of Good Friday. The New York Stock Exchange and Nasdaq Stock Exchange will both close, according to their calendars. The bond market is also closed Friday—and it will close Thursday at 2 p.m. ET, according to the Securities Industry and Financial Markets Association, an industry trade association. Normal trading hours are slated to resume Monday, the day after Easter Sunday. The next scheduled break is Memorial Day, which falls on Monday, May 26, to kick off the summer trading holidays with both stock and markets closed. Read the original article on Investopedia
