DoubleDragon’s subsidiary Hotel101 Global Pte Ltd signed a Binding Agreement for the purchase of 6,593 square meters of prime commercial land in Madrid, Spain.
The Hotel101-Madrid site in Avenida Fuerzas Armadas, Valdebebas, Madrid is surrounded by major landmark buildings.
It is a 3-minute walk to the Valdebebas Train Station, a 4-minute walk to the IFEMA convention complex, a 5-minute walk to Real Madrid Sports Complex, and around 7 minutes to the new Madrid Barajas International Airport.
Hotel101-Madrid will have about 736 rooms and will be the first Hotel101 development in Europe.
The usual Hotel101 facilities will also be available in Hotel101-Madrid such as an All Day Dining restaurant (concessionaire-operated), a Business Center, Swimming Pool, and a Fitness Gym as well as commercial space for a 24-hour convenience store.
Hotel101-Madrid is set to become one of the Top 5 largest hotels in Madrid, Spain.
It’s also set to be the very first homegrown Filipino hotel chain to enter Spain.
DoubleDragon’s vision for Hotel101 to become world-class in all standards and create job opportunities for Filipinos who reside in the Philippines or abroad, and bring a pinch of pride and honor to each and every Filipino from anywhere around the world where Hotel101 will eventually locate and operate.
Robust condotel sales revenue of about €143.3 Million Euros (₱8.8 Billion Pesos) is expected to be generated from the Hotel101- Madrid project given the high real estate investment demand in Madrid driven by the Spanish Golden Visa.