DOUBLEDRAGON Corp. said on Thursday that its subsidiaries DDPC Worldwide Pte. Ltd. and Hotel101 Worldwide Private Ltd. secured the purchase of a lot in Japan for the development of its first international Hotel101 branch.
“DoubleDragon envisions the homegrown Filipino Hotel101 brand to become world-class in all standards and create job opportunities to Filipinos who reside in the Philippines or abroad, and also aims to bring a pinch of pride and honor to each and every Filipino from anywhere around the world where it may eventually locate and operate,” the company said in a disclosure.
The firm said that it executed and paid the required payment deposit in the sales contract signed for the purchase of prime 9,000-square-meter land in Japan’s Hokkaido Prefecture.
“Hotel101 rooms globally are intended to be typical or similar in size and look catering to the mid-end market, enabling a highly efficient booking process allowing guests to know exactly what to expect in a Hotel101 wherever it may be located,” the firm said.
DoubleDragon added that the concept patent of Hotel101 has already been filed and country-specific domains have been secured in various countries globally.
“The Hotel101 concept allows DoubleDragon to generate revenue and income twice, first from the pre-selling of the Happy Room units, then second after the project is constructed it generates long term recurring revenue from hotel operations,” it added.
At the stock exchange on Thursday, DoubleDragon shares declined by 0.6% or five centavos to close at P8.27. — Luisa Maria Jacinta C. Jocson
