HOTEL101 GLOBAL HOLDINGS Corp., the newly listed Nasdaq subsidiary of DoubleDragon Corp. (DD), is anticipated to account for as much as 90% of the parent firm’s business in the approaching years, its global chief executive officer said.
“This (listing) will really unlock plenty of the worth that’s really of DD, which is the controlling shareholder of Hotel101 Global,” Hotel101 Global Chief Executive Officer Hannah Yulo-Luccini said through the Money Talks with Cathy Yang program on One News on Tuesday.
“We consider that Hotel101 Global shall be 90% of DD’s business in the long run and a really large contributor of foreign-dominated revenues to the parent company,” she added.
Hotel101 Global began trading on the technology stock-heavy Nasdaq Stock Exchange in america on Tuesday (Latest York time) under the ticker “HBNB.”
“We’re positioning ourselves as a uniform bed-and-breakfast. We’re an asset-light, prop-tech hospitality platform which we consider will really disrupt the hospitality industry globally with our one-room global hotel concept that guarantees consistency, comfort, and irresistible value,” Ms. Yulo-Luccini said.
The corporate, which listed on June 27, is the primary Filipino-owned firm to be listed on the Nasdaq.
Hotel101 Global has an equity value of $2.3 billion following its business combination with JVSPAC Acquisition Corp.
Ms. Yulo-Luccini said the Nasdaq listing would give the corporate broader access to capital.
“The importance for us being listed on the Nasdaq will allow us access to the capital market and a much deeper capital base of investors within the US,” she said.
“We hope to see the support of, especially plenty of the Filipinos all over the world which are very completely satisfied to see a Filipino company trade for the primary time on the Nasdaq,” she added.
Ms. Yulo-Luccini said Hotel101 Global didn’t consider delaying the Nasdaq listing despite global trade policy uncertainties and escalating conflict within the Middle East.
“Not for a moment did we predict of postponing this. We consider the moment is now for Hotel101 Global because the basics of our business are very strong,” she said.
“We now have a daring vision to expand this to 1 million rooms across 100 countries because we have now something that is really special and truly spectacular,” she added.
The corporate is ready to finish its first overseas project in Madrid by December of this yr. The project could have 680 rooms.
Hotel101 Global can be constructing the 482-room Hotel101-Niseko in Hokkaido, Japan.
It has also secured a site for a planned hotel in Los Angeles, California.
In May, the corporate signed an agreement with Horizon Group to ascertain a three way partnership for the event of as much as ten hotels in Saudi Arabia.
DoubleDragon shares fell by 5.59% or 76 centavos to shut at P12.84 each on Tuesday. — Revin Mikhael D. Ochave