Hotel101 advances with $300-M US offering

DoubleDragon Corp.’s subsidiary Hotel101 Global Holdings Corp. has taken a further toward a planned $300-million (about P18 billion) perpetual preferred share offering in the United States to fund its global expansion.

The company founded by tycoons Tony Tan Caktiong and Edgar “Injap” Sia II said on Tuesday it seeks fresh capital to bankroll its aggressive global expansion strategy.

Proceeds from the proposed equity transaction will mainly fund the rollout of Hotel101 projects worldwide and accelerate its shift to an “asset-light” prop-tech hospitality platform.

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This model is designed to drive “hyper growth” through joint ventures and licensing deals, while minimizing capital tied to physical assets.