Hotel101

DoubleDragon Opens Global Offices in Singapore to Expand Hospitality Portfolio.

DoubleDragon’s hospitality unit opens global offices in Singapore, targeting expansion to 25 countries by 2026.

thethaiger.com

DoubleDragon Corp, a listed property developer, announced on Tuesday that its hospitality unit, Hotel101 Global Pte. Ltd., has officially opened its global corporate and sales offices in Singapore. The move is part of the company’s plan to expand its portfolio to 25 countries by 2026.

According to Hotel101 Global CEO Hannah Yulo-Luccini, the new office will serve as a hub for team members as they work towards their expansion goals. DoubleDragon Chairman Edgar Injap Sia 2nd emphasized the importance of diversifying revenue sources in an increasingly fragile and volatile world economy. He stated that DoubleDragon aims to derive a significant portion of its revenues from geographically diversified sources, with no single country contributing more than 10% of revenue and income in the long term.

Sia also highlighted the company’s objectives, which include maximizing revenue in their Philippine portfolio and significantly growing Hotel101’s market share abroad by 2025. In terms of financial performance, DoubleDragon reported a net income of P1.6 billion for the first semester of 2023, compared to P1.59 billion in the same period last year. Consolidated revenues also saw a 15.62% increase to P3.94 billion from P3.41 billion, driven by improved foot traffic and higher rental income.

Despite these positive developments, DoubleDragon’s share price experienced a slight decline of 5 centavos to P7 apiece on Tuesday.

See Other Stories

Hotel101

Hotel101 Global CEO on the upcoming SPAC merger and U.S. listing plans

April 11, 2024

CNBC | APR 10 2024 Hotel101 Global is nearing its planned listing on the Nasdaq following a SPAC merger in the U.S. CEO Hannah Yulo-Luccini explains why the time is right for such a deal....

Hotel101

Philippines’ DoubleDragon subsidiary Hotel101 Global to list in US

April 11, 2024

Reuters | April 8, 2024 SINGAPORE/MANILA, April 8 (Reuters) – Philippine real estate firm DoubleDragon (DD.PS),on Monday said subsidiary Hotel101 Global will list on the Nasdaq in the United States via a merger with special...

Hotel101

Japan’s Finest Alpine Real Estate Rises At The 2023 PropertyGuru Asia Property Awards

December 13, 2023

powderlife | 13th December 2023 BANGKOK, Thailand — The 2023 PropertyGuru Asia Property Awards (Greater Niseko) today distinguished the companies catalysing the development of Japan’s foremost skiing destination. In an exclu...