BIZ BUZZ: Hotel101 bound for Nasdaq
The tech-heavy Nasdaq Composite may have tumbled into bear territory as markets recoiled from Pres. Donald Trump’s sweeping tariffs, but that will not stop DoubleDragon Corp. from pursuing its goal to list Hotel101, its homegrown international hospitality chain.
DoubleDragon, the property venture of tycoons Edgar Sia II and Tony Tan Caktiong, has submitted additional required documents that put it another step closer to listing its growing brand, the first Filipino company to do so.
Earlier, it submitted to the US Securities and Exchange Commission its registration statement for the $2.3-billion listing under the ticker “HBNB.”
While the listing process continues, Hotel101 is proceeding as scheduled with the construction of its first hotels abroad.
The 680-room Hotel101-Madrid Spain, for example, will top off on April 11, just 11 months after construction started in May 2024.
No doubt the challenges have been daunting but Sia and Tan Caktiong – both born in the Year of the Dragon – are not wavering.
One way or another, Hotel101 will make its debut on the American bourse this year.
