DoubleDragon to Establish Singapore REIT for Global Expansion of Hotel101

DoubleDragon Corp., a prominent Philippine property developer, has announced plans to launch a hospitality real estate investment trust (REIT) in Singapore. This initiative is part of the company’s strategy to accelerate the global expansion of its Hotel101 brand and create a sustainable source of recurring revenue.

In a disclosure made on Friday, DoubleDragon revealed that its board has approved the establishment of a special purpose vehicle (SPV) named DD Hotel101 Worldwide One, which will sponsor a REIT valued at S$300 million (approximately USD 220 million). This proposed REIT is expected to be the fourth pure hospitality REIT listed on the Singapore Exchange, initially holding a diversified portfolio of Hotel101 units from various international projects.

“The planned Singapore REIT will make the Hotel101 platform more attractive to overseas developers as we shift towards a licensing-led growth model.”DoubleDragon Corp.

The SPV is designed to function as a permanent capital recycling mechanism, complementing Hotel101’s per-unit sales model while generating ongoing income. The initial asset size of S$300 million allows the REIT to bypass Singapore’s requirement of a three-year operating history, enabling it to list sooner. Following its launch, additional Hotel101 units from projects worldwide may be added to the REIT to enhance its revenue-generating capacity.

According to DoubleDragon, approximately 20 to 30 percent of selected Hotel101 developments globally are earmarked for allocation to listed Hotel101 REITs on major stock exchanges over time. This strategy is intended to bolster Hotel101 Global’s asset-light, proptech licensing platform as it prepares for further international expansion. The company aims to develop one million standardized hotel rooms across over 100 countries in the long term.

Currently, Hotel101 operates the 518-room Hotel101-Manila and the 606-room Hotel101-Fort in the Philippines, while its first overseas property, Hotel101-Madrid, opened in Spain in March this year. The Madrid hotel has delivered a strong operating performance, including a record single-day revenue of more than €100,000 (approximately USD 110,000) at full occupancy. Additionally, the 482-room Hotel101-Niseko in Hokkaido, Japan, is set to open in December.

“This initiative will strengthen Hotel101 Global’s asset-light, proptech licensing platform as it prepares for the next phase of international expansion.”DoubleDragon Corp.

DoubleDragon anticipates adding 2,229 hotel rooms to its portfolio this year, marking the highest annual rollout in the company's history. This expansion is expected to support its broader objective of increasing recurring revenues across its hospitality, office, industrial, and retail property sectors, while advancing its vision of becoming a debt-free global enterprise by 2035.

Following the announcement, DoubleDragon’s shares saw a modest increase, rising P0.08 (approximately USD 0.0014) or 0.67 percent, to close at P11.94 (around USD 0.21) each.