The developer's rapid expansion puts it on track to soon surpass the P100 billion equity mark, becoming one of the few domestic companies to achieve this milestone.
Later this year, it also expects to complete a roughly P130 billion merger with a US entity ahead of a pioneering listing on the US Nasdaq exchange for Hotel101 Global.
A key part of the company’s growth strategy is its ambitious overseas push for Hotel101, which has started the groundwork on projects in Niseko, Japan, Madrid, Spain and Los Angeles, California in the United States.
The company envisions eventually operating one million rooms across over 100 countries, with 25 priority countries identified for expansion.
The firm has also developed a diversified asset base in the Philippines with a 1.3 million square meter portfolio that includes hotels, provincial community malls in Luzon, Visayas and Mindanao, and office buildings in Metro Manila.
“DoubleDragon, despite being a relatively newer player in a highly competitive industry dominated by long established giants that came many decades ahead, we are grateful for the grit and hard work of our team and support of all our stakeholders that enabled DoubleDragon to demonstrate that the business landscape of the Philippines is a playing field that allows entrepreneurs to thrive,” Sia said.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
