Hotel101, a subsidiary of Philippine-listed DoubleDragon Corp.—led by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong—said the project will rise at 540 Flinders Lane in Melbourne, Australia.
This is located near Flinders Street and Southern Cross train stations, and “immediate walking distance” to Southbank Entertainment Precinct.
2029 completion
Hotel101 said the property, to be called Hotel101-Melbourne, is targeted for completion in 2029, subject to regulatory approvals.
The company trades on the Nasdaq under ticker HBNB, valued at around $2.3 billion.
Sales boost
Hotel101 said the Melbourne project is expected to generate about AU$323.6 million in sales revenue, or roughly P12.6 billion.
The company said the location is near Flinders Street and Southern Cross train stations, and within reach of Melbourne’s major commercial and tourist areas.
Hotel101 said the development will follow its standardized “condotel” model, with amenities including meeting spaces, a conference center, pool, gym, and rooftop bar.
It also cited Melbourne’s annual events calendar, including the Australian Open and Formula 1 Australian Grand Prix, as demand drivers for the area.
Global push
The company said the project forms part of its target to expand Hotel101 operations to 100 countries.
Hotel101 said it has overseas projects underway in Niseko (Japan), Madrid (Spain), and Los Angeles (US).
It also signed an agreement with Saudi Arabia’s Horizon Group for a potential joint venture to develop up to 10 hotels in Saudi Arabia.
—Edited by Miguel R. Camus
