Sustainability & Social Impact

Land for Hotel101 in Niseko acquired

DoubleDragon Corp. has completed the acquisition of a 9,000-square meter property in Hokkaido Prefecture, Japan where its first international Hotel101 development will rise.

In a disclosure on Friday, the listed company said its subsidiaries DDPC Worldwide Pte. Ltd. and Hotel 101 Worldwide Pte. Ltd. had fully paid for the location for the upcoming Hotel101-Niseko. The hotel is designed to house 518 rooms. It is projected to generate P8.1 billion in sales.

The Niseko hotel is targeting local domestic travelers in Japan and foreign tourists.

“Niseko is famous worldwide for its powder snow and Kutchan Town where the property is located is one of the foremost areas of heavy snowfall reaching 13 meters on average with some of the driest and lightest snow in the world,” the listed company said.

DoubleDragon explained that the “Hotel101 concept allows [the firm] to generate revenue and income twice, first from the pre-selling of the condotel units, then second after the project is constructed, it will generate long-term recurring revenue from hotel operation.”

Last year, Hotel101-Manila booked an average occupancy rate of 96.03 percent.

The company chaired by Edgar “Injap” Sia II hopes to make the homegrown Hotel 101 a world-class brand that has presence across the globe.

“DoubleDragon is set to jumpstart its homegrown hybrid condotel brand and concept Hotel 101 to become a global Filipino brand,” he said.

In the first half, the company saw its consolidated core net income rise by 29 percent to P1.20 billion. INQ

Original article: https://business.inquirer.net/365486/land-for-hotel-101-in-niseko-acquired#ixzz7jjPXu0uP

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...