Latest news with #DoubleDragon
Reuters
9 hours ago
- 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.
Forbes
4 days ago
- 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.
Forbes
07-04-2025
- Entertainment
- Forbes
‘Marvel Cosmic Invasion' Is An All-New Retro-Style Beat ‘Em Up
Look at the glorious pixel art Recently during one of Nintendo's Direct presentations, a new pixel art beat 'em up was revealed for later this year named Marvel Cosmic Invasion and it's coming to Nintendo Switch, PlayStation 4, PlayStation 5, Xbox consoles, and PC. This new game features many of Marvel's most iconic characters like Captain America, Spider-Man, Wolverine, Storm, and more in solo or cooperative battles against bad guys. I absolutely love a good pixel art beat 'em up game. Dating all the way back to the original Nintendo console (NES), Sega Genesis, and Super Nintendo (SNES), I've been playing beat 'em ups like Double Dragon, Streets of Rage, Golden Axe, Teenage Mutant Ninja Turtles, and more for a very long time. Naturally, the state of the genre has me very happy these days. Marvel Cosmic Invasion will include 15 different heroes to choose from as you create a duo to take into each level that can be swapped between as a tag team mid-fight, potentially inspired by the character-switching from the Marvel vs. Capcom fighting games. Similar to other popular beat 'em ups, Marvel Cosmic Invasion will feature four-player drop-in/drop-out local and online co-op multiplayer with full crossplay between all platforms. Did you know this isn't the first Marvel-themed pixel art beat 'em up game? That's right, back in the early 90s Marvel licensed the characters to Data East to make an arcade game featuring Marvel characters called Captain America and the Avengers. In that game, you can only play as Captain America, Iron Man, Vision, and Hawkeye. Eventually, it was also ported to home consoles like the Sega Genesis and Super Nintendo—in fact, I've got a complete copy of the game on Sega Genesis. You can see it in action here. FEATURED | Frase ByForbes™ Unscramble The Anagram To Reveal The Phrase Pinpoint By Linkedin Guess The Category Queens By Linkedin Crown Each Region Crossclimb By Linkedin Unlock A Trivia Ladder Circling back to the four properties I mentioned at the beginning, all of them are more relevant today than they have been in many years. Double Dragon just got a new game recently with another on the way, Streets of Rage had a recent sequel with Streets of Rage 4, Golden Axe is in the process of being rebooted by Sega themselves, and Teenage Mutant Ninja Turtles: Shredder's Revenge was a recently released pixel art beat 'em up in this same style by the exact same developer (Tribute Games) and publisher (Dotemu) as Marvel Cosmic Invasion. That's a powerful lineup Fans of beat 'em ups like me are spoiled for choice at the moment and it's about to get even better. Moving from left to right while fighting bad guys has never been cooler or more in style. Marvel Cosmic Invasion is planned for release later this year.
Associated Press
14-03-2025
- Business
- Associated Press
Hong Kong Marriage Equality & Playback Concept Introduce 'Proud Pair'
Reshaping A 700-Year-Old Tradition to Be More Inclusive for Diverse Gender Groups Unleashing the power of jewellery to advance equal marriage and promote boundless love HONG KONG, March 14, 2025 /PRNewswire/ -- Hong Kong Marriage Equality has partnered with local jewellery brand Playback Concept to launch the 'Proud Pair'. This series maintains essential traditional motifs while incorporating inclusive design changes, expanding the traditional framework of one dragon and one phoenix to include 'Double Dragon' and 'Double Phoenix' designs. These inclusive designs convey the core value of love without boundaries, allowing parents to express their support and blessings for non-traditional marriages. Traditional dragon and phoenix bangles feature one dragon and one phoenix, which represent binomial pairs and bring blessings for a happy marriage. However, this design suggests traditional gender roles and fails to reflect diverse sexualities and genders. In Hong Kong, many gender-diverse couples believe that traditional designs do not accurately reflect their love stories, rendering their relationships invisible. The 'Proud Pair' not only preserves traditional cultural motifs but also includes elements that represent auspiciousness for every couple, irrespective of gender or sexual orientation. Product Information: The Proud Pair - Double Dragon This design is inspired by the dragon in traditional Chinese culture, which symbolizes auspiciousness, protection, and blessings. The bracelet features two exquisite dragon shapes circling a playful pearl on either side. The pearl is engraved with the 'Double Happiness' character. Altogether, the design represents mutual respect, humility, and inclusivity between partners. A rainbow connects the two dragons, symbolizing intergenerational and cross-gender connections and embodying diverse possibilities beyond traditions. Product Information: The Proud Pair - Double Phoenix The design is inspired by the phoenix in traditional Chinese culture, which symbolizes happiness, rebirth and eternity. The bracelet features two elegant phoenixes in flight, encircling a central bead engraved with the 'Double Happiness' character. This design represents fulfilling love and togetherness. A rainbow connects the two phoenixes, symbolizing intergenerational and cross-gender connections and embodying diverse possibilities beyond tradition. Gigi Chao, Co-founder of Hong Kong Marriage Equality, says: 'Traditional dragon and phoenix bracelets are designed with one dragon and one phoenix. While the symbolism is beautiful, it fails to address the needs of diverse gender groups. Through the 'Proud Pair', we hope to redefine the meaning of dragon and phoenix bracelets, making them a testament to all types of love and promoting marriage equality.' Chen Bao-feng, founder of Playback Concept, remarks: 'The biggest challenge in designing this bracelet was how to cleverly incorporate elements of diverse genders while preserving the deep cultural significance of traditional dragon and phoenix motifs. We not only delved into traditional culture but also engaged with many same-sex couples to listen to their stories and needs, which ultimately shaped the final design. This series is not just an accessory; it is a declaration of love and equality, allowing every love story to be seen and blessed.' For those interested in ordering the 'Proud Pair,' please visit the website of Playback Concept. Part of the proceeds will be donated to Hong Kong Marriage Equality. Hong Kong Marriage Equality is dedicated to promoting fair treatment for same-sex couples, eliminating discrimination against them, fostering social diversity, and advocating for laws related to gender and sexual minority equality in Hong Kong. About Playback Concept Playback Concept aims to connect metal craftsmanship with people's lives, integrating the aesthetics of metalwork into jewelry and everyday items.
