Doubledragon to unveil 3 new hotels

Doubledragonproperties Corp. on Wednesday said it will launch 3 new affordable projects under the Hotel 101 brand this year, which would generate around P11.3 billion in sales.

The company said it will start the pre-selling of its Hotel 101 brand in Cebu, boracay and libis in Quezon City. a total of 2,251 new rooms will be added to its portfolio.

The Hotel 101 model being a 3-star affordable hotel maintained high occupancy as it provided accommodation to employees of bpo companies even at the height of the pandemic. all of its hotel units in bonifacio global City in Taguig were fully sold out during the pandemic, while the 518-room Hotel 101 Manila in Pasay had an 80.11-percent occupancy rate last year.

The affordable hotel concept allows Doubledragon to generate revenue and income twice, first from the pre-selling of the condotel units, and second after the project is completed and starts to generate long-term recurring revenue from hotel operations.

“as far as we are aware, Hotel 101 is the only hotel concept of its kind in the world, the patent documents for Hotel 101’s unique and pioneering concept has already been filed,” company chairman edgar Sia said.

“The Hotel 101 model has proven to be truly resilient, even in these circumstances it was able to deliver as much as 6.72 percent gross annual yield to its original Hotel 101—Manila unit owners, which is much higher than most corporate bond yields last year,” Doubledragon chief investment officer Hannah Yulo-luccini said.

“The completion of these new Hotel 101 projects will be perfectly timed with the full recovery and anticipated rebound in the tourism industry in the Philippines. We believe in a couple of years, all this pent up demand for tourism will cause an unseen surge in demand for hotel rooms across the country.”