Image: According to DoubleDragon, Hotel101 will expand to 25 countries by 2026. Credit: dotshock via Shutterstock.com.

DoubleDragon, a real estate company in the Philippines, is weighing to list Hotel101 Global, its Singapore-registered hospitality unit, on the Nasdaq, reported Reuters.

It is looking at the listing through a merger with a special purpose acquisition company (SPAC).

Related Company Profiles

View all

DoubleDragon confirmed to the news agency that the SPAC mode was one way to speed up its plan to expand the hospitality unit internationally.

In a stock exchange filing, DoubleDragon stated: “We likewise clarify, that the amount of equity to be raised will still be finalised at a future date, although it is notable that generally, most SPACs invest about $200 million for mergers and acquisitions.”

As per the internal financial estimations of the hotel operator, DoubleDragon aims to have a valuation of up to $17bn for Hotel101 in the near term. However, it did not give any further details.

See Also:

Hotel101 provides hotel accommodation in the mid-class range for travellers in the Philippines.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

According to DoubleDragon, Hotel101 will expand to 25 countries by 2026 and among these markets include the US and China, reported the news agency.

DoubleDragon’s plan comes after Vietnam-based electric vehicle company VinFast’s plan to list in the US in August through SPAC mode called Black Spade Acquisition.

As per an estimation of VinFast, the merged firm was to have a potential $23bn in equity value.

DoubleDragon stated: “We also take note from recent news articles that Vietnam is expected to produce their first NASDAQ SPAC company this year with VinFast EV company, and it is the aspiration of DoubleDragon’s Hotel101 to become the first of the same from the Philippines.”