Insider Spotlight
The property group’s core profit jumped 254 percent to P3.91 billion in the first nine months, while core revenues soared 144 percent to P20.78 billion, driven by growing operations at home and abroad.
Foreign-currency revenues accounted for 59 percent of third-quarter core revenues, marking a shift for a company led by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong.
Hotel101 drives global push
The expansion gained momentum following the opening of Hotel101’s 680-room property in Madrid, Spain, where all units had been sold.
Hotel101’s business model allows DoubleDragon to earn from both unit sales and subsequent hotel operations, combining upfront sales with recurring income as it expands internationally.
Third-quarter net income surged more than sixfold to P1.13 billion from P183.67 million a year earlier, underscoring the acceleration in earnings.
Growth without revaluation gains
DoubleDragon reported P20.78 billion in consolidated revenues entirely from core operations, with no property revaluation gains during the period.
The group’s total assets climbed to P256.82 billion as of September, up P31.56 billion from December 2025, while equity increased to P107.02 billion.
Bigger ambitions ahead
DoubleDragon expects further growth from overseas Hotel101 unit sales, mall openings, warehouses, office tenants and MerryMart supermarkets as it expands its operating income base.
With Hotel101 targeting one million standardized rooms across more than 100 countries, DoubleDragon believes it can achieve its P500-billion core revenue target ahead of its 2035 deadline.
—Edited by Miguel R. Camus
