DoubleDragon breaks ground for Hotel101-Niseko in Japan

DoubleDragon Corp., led by chairman Edgar "Injap" Sia II and co-chairman Tony Tan Caktiong, said on Tuesday it had broken ground for the construction of its 482-room Niseko project in Hokkaido, Japan.

The Hotel101-Niseko project will be housed on a 1.17-hectare property in the Hokkaido Prefecture and is set to be patronized by local domestic travelers in Japan and foreign tourists from other countries.

DoubleDragon tapped Iwata Chizaki Inc. as its contractor for the project, the same firm that built the Chitose International Airport in Sapporo, Hokkaido. 

The project will be done through DoubleDragon’s Singapore-registered Hotel101 Global Pte. Ltd., which will oversee the brand’s worldwide hotel expansion starting with Niseko in Japan, Madrid in Spain, and California in the United States.

"These first three overseas sites will serve as bridge projects to jumpstart the transition of Hotel101 to transcend beyond these first three countries and become a global brand with a truly unique business concept that can be planted in over 100 countries," DoubleDragon said.

Moving forward, DoubleDragon said it targets Hotel101 to be in 25 countries by 2026: the Philippines, Japan, Spain, the USA, the United Kingdom, the United Arab Emirates, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France, and China.

DoubleDragon’s completed recurring income portfolio stands at 1.2 million square meters in diversified hard assets in office leasing with its Jollibee Tower, DD Meridian Park complex, CityMall community centers, CentralHub industrial warehouse complexes, and Hotel101 projects.

DoubleDragon ended the first half of the year with a P1.60-billion net income, up from P1.2 billion in the same period in 2022, as consolidated revenues climbed 15.62% to P3.94 billion. — VBL, GMA Integrated News