DoubleDragon Properties aims to acquire its first property outside the Philippines by the second quarter of 2022 which will be developed into a Hotel 101 concept, as its flagship project marking the first international venture for the company.
The first Hotel 101 project within the Asian region, slated to be launched at the latter half 2022 in Singapore, is also planned to provide Filipino investors with an opportunity to make their first overseas real estate investment with flexible payment options for their hybrid condotel Hotel 101 venture.
DoubleDragon Chairman Edgar “Injap” Sia 2nd is optimistic that Hotel 101’s hybrid condotel concept will be well received by the international community for its pioneering approach.
“Filipinos are admired all over the world for being highly hospitable people. In fact, many hotels around the world are ably handled by Filipino talents. With that in mind, DoubleDragon believes it’s about time that a Filipino company pursues that aspiration of creating a homegrown Filipino hotel brand that is recognized globally and will eventually bring honor and pride to Filipinos,” said Sia.
DoubleDragon has also identified locations where Hotel 101 is likely to be visited by local and foreign visitors, as well as Filipinos visiting the country for business or pleasure, as per reports from The Manila Times.
“We are grateful to the DoubleDragon team who have, over the years, been able to put together, polish and test the unique and pioneering Hotel 101 hybrid condotel concept and most especially put to life an exportable concept for the world. We are also glad to have been able to file the Hotel 101 concept patent early on,” added Sia.
The Hotel 101 idea is a hybrid condotel model in which all units, or “Happy Rooms,” as they are known, are identical, enabling all unit owners a part of the Hotel 101 property’s income. Each unit owner enjoys 30% of the gross revenue and owns the title to the unit, with free nights across Hotel 101 projects nationwide. Hotel 101 gets 70% of the gross room revenue but will ensure occupancy and handle costs such as unit fit-out, hotel operating expenses, unit repairs, and maintenance.
“The development and completion of these new Hotel 101 projects will be perfectly timed with the full recovery and anticipated rebound in the tourism industry. 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 globe,” said DoubleDragon Chief Investment Officer Hannah Yulo-Luccini.
Meet DoubleDragon Properties Corp. at the 8th Philippine Property and Investments Expo (PPIE) on 5-6 November 2022 at Crowne Plaza Hotel in Sheikh Zayed Dubai. DoubleDragon Properties Corp. is a silver sponsor of PPIE, the biggest, longest-running and most trusted Philippine business and investment forum in the Middle East, now on its eighth edition.
The past seven PPIE editions made history in the UAE and the Gulf region by bringing in over 24,500 quality visitors.