Latest news with #Philippine-owned
Filipino Times
28-06-2025
- Business
- Filipino Times
Hotel101 becomes first Filipino-owned company listed on Nasdaq
Hotel101 Global Holdings Corp. has become the first Filipino-owned company approved to be listed and traded on the Nasdaq Stock Exchange in New York. The company celebrated this milestone by ringing the Nasdaq Opening Bell. Hotel101 shares are scheduled to begin trading on July 1, 2025, under the ticker symbol $HBNB. The listing follows the completion of its business combination with JVSPAC Acquisition Corp. (Nasdaq: JVSA), which was approved by JVSPAC shareholders on June 24, 2025. With a deemed equity value of US$2.3 billion, the listing marks a historic first for any Philippine-owned company on the Nasdaq. Hotel101 is a subsidiary of Philippine-listed DoubleDragon Corporation (PSE: DD). Hotel101 Global is described as an asset-light, prop-tech hospitality platform business built for rapid global expansion. The model features standardized hotel rooms and combines hospitality with property technology. The company's long-term vision is to build one million hotel rooms in 100 countries, aiming to offer a seamless travel experience across borders. Its listing on Nasdaq opens more doors for international growth and investor visibility. DoubleDragon's leadership posted on social media: 'A First Time Ever FILIPINO Moment in History today at the U.S. NASDAQ stock exchange in New York!'—highlighting pride in this landmark achievement.
Reuters
06-06-2025
- Business
- Reuters
Nasdaq-bound Hotel101 eyes expansion into Latin America, Oceania, CEO says
SINGAPORE, June 6 (Reuters) - Hotel101 Global, a unit of Philippine-listed real estate company DoubleDragon ( opens new tab, is looking to expand into Latin America and Oceania in addition to growing its presence in existing regions including Asia, its CEO Hannah Yulo-Luccini told Reuters on Friday. Last month, Hotel101 entered into a partnership with Saudi Arabia-based Horizon Group to build 10,000 rooms or 20 hotels across the Kingdom, marking its fourth destination outside of the Philippines and after Japan, Spain and the U.S. CONTEXT Hotel101 is due to list on Nasdaq following a merger with a Nasdaq-listed special purpose acquisition company JVSPAC Acquisition Corp (JVSA.O), opens new tab that puts Hotel101 equity value at $2.3 billion. Both companies on Monday had obtained regulatory nod to proceed. JVSPAC is a publicly listed shell that raises funds to merge with a private entity. WHY IS IT IMPORTANT Upon listing, the combined company will operate as Hotel101 and will become the first Philippine-owned company to be listed and traded on Nasdaq, which the CEO says will help it with its international expansion. DETAILS Singapore-headquartered Hotel101 builds and operates hotels with standardized, 21 square metre rooms that it sells individually to investors. Its asset-light business model generates revenue first from room sales and then from the recurring income from day-to-day hotel operations. KEY QUOTES: "This whole process of becoming a Nasdaq-listed company has really allowed us to really have that global credibility as we expand the brand to 25 countries in the near term," Yulo-Luccini said. "Other than the Saudi JV, we're actually working on five more hotel JVs."
Yahoo
02-06-2025
- Business
- Yahoo
Philippines' DoubleDragon subsidiary Hotel101 progresses towards Nasdaq listing
SINGAPORE (Reuters) -Hotel101 Global Holdings Corp and Nasdaq-listed special purpose acquisition company JVSPAC Acquisition Corp said on Monday they had obtained a regulatory nod to proceed with a business combination agreement. They said in a statement that the U.S. Securities and Exchange Commission had declared effective Hotel101's registration statement on form F-4 filed with the SEC in connection with the business tie-up. JVSPAC is a publicly listed shell that raises funds to merge with a private entity. Hotel101 is the hotel arm or subsidiary of Philippines-listed DoubleDragon. The business combination values Hotel101 at an equity value of $2.3 billion, according to the statement. Upon listing, the combined company will operate as Hotel101 and will become the first Philippine-owned company to be listed and traded on Nasdaq, the statement showed. JVSPAC said that it has scheduled an extraordinary general meeting of shareholders on June 24 to vote on the proposed business combination with Hotel101. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
