On Nov. 14, 2023, DoubleDragon’s subsidiary Hotel101 Global Pte Ltd secured a 3,647 square meter prime corner lot property located in Los Angeles, California, USA.
The Hotel101-Los Angeles site is in the Westlake North District of Los Angeles.
It is conveniently located about 5 minutes to Downtown LA, Dodger Stadium, and the previous Staples Center and only about 10- minute drive to Hollywood and about 20 minutes to Beverly Hills.
The location is very accessible to Highway 101 and the Los Angeles International Airport (LAX) is only about a 20-minute drive.
Hotel101-Los Angeles is planned to have 622 units subject to entitlement and zoning approval and will be the first Hotel101 development in the United States.
In addition to the usual Hotel101 facilities such as an all-day dining restaurant (concessionaire-operated), a Business Center, a Swimming Pool, and a Fitness Gym, as well as commercial space for a 24-hour convenience store, Hotel101-Los Angeles is planned to have a large convention center and function rooms with breathtaking views of the entire Los Angeles skyline.
Sales revenues of about US$183 Million (₱10.3 Billion Pesos) is expected from the Hotel101-Los Angeles, California, USA project.
“As history has taught us, major economic recessions have actually served as a launchpad for many inspiring entrepreneurs to leap forward. These temporary periods of dislocation and chaos have created rare windows of opportunity for their businesses to strengthen their market grip and enable many of them to become what we know today as the world’s most incredible and durable businesses,” said Edgar “Injap” Sia II, Chairman of DoubleDragon Corporation.
“This step completes the first 3 strategic overseas sites of Hotel101 located in Japan, Spain and USA, and is set to enable Hotel101 to transcend as a truly global brand”, said Hannah Yulo-Luccini, CEO of Hotel101 Global Pte. Ltd.
Hotel101’s Unique Asset-Light Business Model
Hotel101’s unique and pioneering hybrid condotel business model comes with having only one type of room unit type across its global ecosystem making it extraordinarily efficient to build and operate.
The highly portable Hotel101 concept also allows it to expand and create the uniform worldwide inventory through direct development, joint venture, and licensing.
Hotel101’s Asset-Light concept allows DoubleDragon to generate revenue and income twice, first from the pre-selling of the condotel units, then second after the project is constructed it generates long term recurring revenue from the enrolled units in operating the hotel.
Hotel101 rooms globally are intended to be typical or similar in size and look to cater to the mid-end market, enabling a highly efficient booking process and allowing guests to know exactly what to expect in a Hotel101 wherever it may be located.
The concept patent of Hotel101’s pioneering condotel concept has already been filed and the Hotel101 trademark and country-specific domains have been secured in various countries globally.
The Hotel101 App for both Apple iOS and Android that is designed to efficiently work in multiple countries is currently being developed.
Hotel101 adopts dynamic pricing on its room rates similar to airline tickets where its room price moves up and down depending on the real time supply and demand on the chosen date of booking.
Hotel101 Overseas Expansion
The first three overseas Hotel101 projects will be in Niseko Hokkaido Japan, Madrid Spain and Los Angeles, California USA.
These first three overseas sites will serve as bridge projects to jumpstart the transition of Hotel101 to transcend beyond these first three countries and become a global brand with a truly unique business concept that can be planted in over 100 countries.
Target near term expansion roadmap for Hotel101 Global Pte. Ltd. is to be in these first 25 countries by 2026 namely: Philippines, Japan, Spain, USA, United Kingdom, UAE, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France and China.
DoubleDragon’s Focus: Strengthening the Base, Positioning Globally
The DoubleDragon team has currently two specific and straightforward goals.
Firstly, for DoubleDragon’s Philippine portfolio to fully mature and reach its optimal revenue generation level by 2025.
And secondly, for DoubleDragon’s Offshore Hotel101 Global portfolio to gain significant market grip overseas by 2025.
“Given that the world economy is getting more and more fragile and volatile, we deemed it imperative, that the only way to future-proof itself is to passionately pursue the target of DoubleDragon’s revenues to be derived from geographically diversified sources, that eventually over the longterm, we aim that no single country will contribute over 10% of DD’s revenue and income,” said DoubleDragon Chairman Edgar Injap Sia II.
“But of course, your company DoubleDragon Corporation, will remain to be a deep-rooted Filipino company at its core forever. And your DD team will never stop at any point, doing its unconditional responsibility, to continually be a significant contributor in Nation-Building, with our common goal towards a first world Philippines,” added Mr. Sia.
