Latest news with #TonyTanCaktiong
UAE Moments
16 hours ago
- 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.
Forbes
30-05-2025
- Business
- Forbes
Jollibee Billionaire-Backed Hotel101 To Build 10,000 Rooms Worth $2.5 Billion In Saudi Arabia
Hotel101 Global—a unit of DoubleDragon, which is jointly owned by Philippine fast food giant Jollibee founder Tony Tan Caktiong and real estate tycoon Edgar Sia II—is expanding into Saudi Arabia with plans to build 10,000 rooms worth $2.5 billion amid a travel boom. In partnership with Saudi Arabia-based Horizon Group, Hotel101 has identified an initial five sites for its hotels with the first project to be built in Medina followed by Riyadh, Jeddah, Abha and Alula, Hotel101 said in a statement Thursday. Each Hotel101 site will have an average of 500 rooms, the company said. The joint venture comes ahead of Hotel101's planned listing in Nasdaq that DoubleDragon co-chairman Sia told Forbes Asia in February will be done by the first half of 2025. The Nasdaq listing has been on the table since Singapore-based Hotel101 completed a $2.3 billion merger with a Hong Kong-based special purpose acquisition company. 'We see tremendous opportunities in the Kingdom of Saudi Arabia given the high growth in tourism both domestic and international,' Hotel101 CEO Hannah Yulo-Luccini said. 'We believe Saudi Arabia will be one of the most exciting markets for Hotel101 globally.' Saudi Arabia—one of the 25 countries initially identified for Hotel101's expansion—registered 27 million international tourists and 79 million domestic tourists in 2023 who spent about $67 billion, according to the company. Saudi Arabia is also a key market in the Middle East for overseas Filipino workers, whose remittances have supported consumer spending in the Philippines. Hotel101 aims to build a global chain by offering identical, standardized rooms in all its properties for efficiency and affordability. Adopting the 'condotel' concept that gained popularity in the U.S. in the 1980s, Hotel101's rooms, while under construction, are pre-sold at an average price of as much as $250,000 apiece to investors, who can get a 30% share of the gross hotel room revenues and can stay for free up to ten days every year. 'With Hotel101's rapid-build model and Horizon's local know-how, we will add 10,000 quality, affordable rooms across the Kingdom,' said Horizon Group CEO Abdulrahman Sharbatly. Saudi Arabia is the fourth destination outside of the Philippines for Hotel101, which has assets under construction in Japan's ski town of Niseko in Hokkaido, Madrid and Los Angeles. Hotel101 currently has over 1,100 rooms in two operating hotels in the Philippines where it's currently building nine more properties. It aims to have a million rooms by 2050. With a fortune of $340 million, Sia ranked No. 39 when the list of the Philippines' 50 Richest was published in August. Tan Caktiong, who has a net worth of $2.9 billion, is No. 6. Horizon Group has interests in real estate, trading, hospitality and transportation. It owns a stake in SAMACO, which distributes car brands such as Audi, Bentley, Porsche, and Bugatti in Saudi Arabia.
Yahoo
18-02-2025
- Business
- Yahoo
Jollibee Partners with Botrista to Launch Signature Sips Nationwide
SAN FRANCISCO, Feb. 18, 2025 /PRNewswire/ -- In a strategic move that signals the growing importance of automated beverage solutions in the quick-service restaurant industry, Jollibee Foods Corporation (JFC), one of Asia's largest restaurant companies, has partnered with Botrista to revolutionize their beverage program across their U.S. locations. "Botrista is a game changer for the beverage industry. We are excited to invest in a company that creates excellent and innovative products, enabling food service operators to deliver a world-class customer experience and providing a substantial runway for sustained profitable growth," JFC chairman Tony Tan Caktiong said. This landmark partnership brings together Jollibee's global restaurant expertise with Botrista's full beverage program, leveraging their automation technology and Michelin-method drink mastery - creating the perfect partnership to launch their new "Signature Sips" menu. "Jollibee has an extremely high bar when it comes to ingredient standards and top-quality products, making a partnership with them a perfect blend of product thoughtfulness," said Sean Hsu, CEO at Botrista. "Together, we're creating an elevated beverage experience that complements their iconic food offerings while maintaining consistent quality at scale." The partnership comes at a time when consumer demand for creative, customizable beverages continues to surge. Industry research by Botrista shows that 84% of consumers seek unique experiences and bonding when dining out - a key factor in Jollibee's partnership with the company. "We approached the development of the Signature Sips menu with the goal of offering a premium drink experience that would both complement our best-selling food items and encourage people to try Jollibee for the first time," said Nick Bedell, marketing director of Jollibee North America. "Our team drew inspiration from tropical flavors as we tested 46 flavor variations and hundreds of recipes over a rapid process of just 78 days. The result is the unique and refreshing selection we have today." The new Signature Sips menu, powered by Botrista's technology, features an extensive lineup including: Fruit-forward Quenchers like the Tropical Breeze (strawberry, passionfruit, and coconut blend) and Dragonfruit Sunset Creamy frozen Freezes including Coconut Dream and Strawberry Bliss Premium Teas such as Passionfruit Iced Tea and Lychee Iced Tea Specialty items like Sweet Cream Cold Brew Botrista's plug-and-play platform enables Jollibee restaurants to: Introduce premium craft beverages with minimal additional training Create region-specific drink offerings catering to local tastes Maintain consistent quality across locations while reducing preparation time Generate new revenue streams through an expanded beverage menu "We're thrilled to bring these new refreshing drinks to our customers and offer them an elevated and delightful beverage experience that complements our menu perfectly," says Luis Velasco, senior vice president and marketing head at Jollibee Foods Corporation, North America. "Whether it's a midday pick-me-up or a treat to enjoy with your meal, we want every sip to bring a little extra joy to your day. Botrista is making that happen for us." The initial rollout has already shown promising results, with participating restaurants reporting significant increases in beverage sales and customer satisfaction scores. As the partnership develops, both companies plan to collaborate on developing new beverage innovations specifically tailored for various markets, where premium drinks and milk teas continue to see strong growth. About Jollibee Foods Corporation Jollibee Foods Corporation (JFC) is one of Asia's largest food service companies operating in multiple markets worldwide. With more than 70 locations in the United States and over 1,650 across 17 countries, Jollibee is one of the world's fastest-growing restaurant chains. The company operates diverse food concepts, including Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, and has expanded its presence internationally through strategic investments and partnerships. About Botrista Botrista enables partners to easily serve an array of vibrant drinks in order to tackle dynamic consumer trends. With incredible ingredients sourced from around the globe - consumers looking for trending, cold beverages are spoiled for choice. By utilizing an extremely detailed data-driven approach to menu development. Implemented, operated and scaled without any added complexity - Botrista's ever-evolving partnership delivers on quality, consistency and profit. It's 'out of the box' thinking, just in a cup. View original content to download multimedia: SOURCE Botrista Inc. Sign in to access your portfolio
