DoubleDragon's subsidiary Hotel101 Global Acquires Commercial Land in Madrid, Spain

DoubleDragon's subsidiary Hotel101 Global Pte Ltd, announced today, April 27, that it signed a Binding Agreement for the purchase of 6,593 square meters of prime commercial land in Madrid, Spain.

The Hotel101-Madrid site in Avenida Fuerzas Armadas, Valdebebas, Madrid is surrounded by major landmark buildings. 3 minutes walk to the Valdebebas Train Station, 4 minutes walk to IFEMA convention complex, 5 minutes walk to Real Madrid Sports Complex, and around 7 minutes to the new Madrid Barajas International Airport.

Hotel101-Madrid will have about 736 rooms and will be the first Hotel101 development in Europe. The usual Hotel101 facilities will also be available in Hotel101-Madrid such as an All Day Dining restaurant (concessionaire-operated), a Business Center, Swimming Pool, and a Fitness Gym as well as commercial space for a 24 hour convenience store.

Hotel101-Madrid is set to become one of the Top 5 largest hotels in Madrid, Spain. Hotel101-Madrid is set to be the very first homegrown Filipino hotel chain to enter Spain.

DoubleDragon's vision for Hotel101 to become world-class in all standards and create job opportunities to Filipinos who reside in the Philippines or abroad, and bring a pinch of pride and honor to each and every Filipino from anywhere around the world where Hotel101 will eventually locate and operate.

Robust condotel sales revenue of about €143.3 Million Euros (₱8.8 Billion Pesos) is expected to be generated from the Hotel101- Madrid project given the high real estate investment demand in Madrid driven by the Spanish Golden Visa.

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