Property

Injap Sia sees sunny days ahead: DoubleDragon eyes P11B from 3 new hotels

DoubleDragon Properties Corp. is adding 2,251 new rooms to its hotel portfolio with the launch of three new projects in the next three quarters.

DoubleDragon Properties Corp. is adding 2,251 new rooms to its hotel portfolio with the launch of three new projects in the next three quarters.

In a statement, DoubleDragon said it expects to generate P11.03 billion from Hotel 101 Cebu, Hotel 101 Resort Boracay and Hotel 101 Libis which will soon start pre-selling activities.

“The Hotel101 concept allows DoubleDragon to generate revenue and income twice, first from the pre-selling of the condotel units, then secondly after the project is completed it starts to generate long-term recurring revenue from hotel operations,” DoubleDragon said.

Hotel 101’s Happy rooms are equipped with kitchenettes in each room, making it suitable to long-staying guests.

“As far as we are aware,Hotel101 is the only hotel concept of its kind in the world, the Patent documents for Hotel101’s unique and pioneering concept has already been filed,” said DoubleDragon chairman Edgar “Injap” Sia.

Sia said Hotel 101 would be one of the driving forces of DoubleDragon’s core growth in real estate. It has able to deliver as much as 6.72 % gross annual yield to its original Hotel 101-Manila unit owners, which is much higher than most corporate bond yields last year.

” We envision DoubleDragon to soon become an investment holding companywith several subsidiariesin multiple sunrise industries, and as the ultimate parent company, it will usher its subsidiaries to eventually conduct IPOso ne by one when the right time comes,” he said.

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