Over the next decade, the company aims to reach P500 billion in revenues and a net income of P50 billion, said Sia, who is the co-chair and CEO of DoubleDragon.
This was part of the group’s five priority goals, which include establishing a footprint in all 82 provinces in the country to become a true national player, and expanding Hotel101 Global in 100 countries by 2035.
Moreover, Sia pledged to turn DoubleDragon into a “totally debt-free company” and generate annual cash dividends exceeding P12 billion.
He said these will be “derived from revenues from various foreign currencies flowing back to the Philippine-listed DoubleDragon Corp., making DD one of the major multi-foreign currency recurring inflow generator to the Philippine economy.”
These are ambitious goals, as DoubleDragon generated revenues of almost P25 billion last year and a net income of P15.9 billion.
“[A]ll these five straightforward vital tasks we have set out, can only be done by the whole DD team with the solid support from all of you,” Sia said.
“Rest assured myself and our whole DD team will put these five priority goals for 2035 to heart,” he added.
Sia said the company is expected to have a “fully mature and reach its optimal revenue generation level by 2025.”
Part of its plans is listing Hotel101 in an international exchange such as the Nasdaq, the company previously announced.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
