DoubleDragon Properties Corp. expects to generate P11.03 billion in sales from three Hotel 101 condotels it will launch this year.
To be launched are Hotel 101-Cebu, Hotel 101 Resort-Boracay and Hotel 101-Libis.
DoubleDragon said the Hotel 101 model, being a three-star affordable hotel, maintained high occupancy as it provided accommodation to employees of business process outsourcing companies even at the height of the pandemic.
“Hotel 101’s ‘Happy Rooms’ have been designed from the very beginning to have the amenities of a studio unit, equipped with kitchenettes in each room, which makes it suitable to long staying guests. These features and more came in very useful during the pandemic,” the company said.
It added that the Hotel 101 concept allowed it “to generate revenue and income twice — first from the pre-selling of the condotel units, then secondly after the project is completed it starts to generate long term recurring revenue from hotel operations.”
DoubleDragon said Hotel 101 room rates are dynamic, just like purchasing an airline ticket where prices go up and down multiple times every day depending on the supply and demand for the specific booking period.
“As far as we are aware, Hotel 101 is the only hotel concept of its kind in the world, the patent documents for Hotel 101’s unique and pioneering concept has already been filed,” said Edgar Sia, DoubleDragon chairman.
“We envision DoubleDragon to soon become an investment holding company with several subsidiaries in multiple sunrise industries, and as the ultimate parent company, it will usher its subsidiaries to eventually conduct IPOs (initial public offerings) one by one when the right time comes,” Sia said.
“The Hotel 101 model has proven to be truly resilient, even in these circumstances it was able to deliver as much as 6.72 percent gross annual yield to its original Hotel 101-Manila unit owners, which is much higher than most corporate bond yields last year,” said Hannah Yulo-Luccini, DoubleDragon chief investment officer.
According to Luccini, the completion of the new Hotel 101 projects are timed with the full recovery and anticipated rebound in the tourism industry in the Philippines.
