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Manila Bulletin devider Business devider The Stock Market devider Hotel101 to list in NASDAQ this month after US SEC approval of merger

Hotel101 to list in NASDAQ this month after US SEC approval of merger

Published Jun 3, 2025 09:52 am
DoubleDragon Corp. reported that the United States Securities and Exchange Commission (US SEC) has declared effective its subsidiary Hotel101 Global Holdings Corp.'s registration statement on Form F-4 in connection with the business combination with JVSPAC Acquisition Corp. for its NASDAQ listing.
In a disclosure to the Philippine Stock Exchange (PSE), DoubleDragon said the business combination values Hotel101 at an equity value of $2.3 billion, and Hotel101 is expected to list on NASDAQ this month after a few months’ delay. The original target was late last year.
The closing of the business combination is expected to occur as soon as possible, subject to regulatory and shareholder approvals and other customary closing conditions.
Upon listing, the combined company will operate as Hotel101 Global Holdings Corp. and trade under the ticker symbol HBNB.
Once listed, Hotel101 will become the first Filipino-owned company to be listed and traded on Nasdaq. Hotel101 is a subsidiary of Philippine-listed DoubleDragon.
Last week, Hotel101 said it has teamed up with Horizon Group for a major expansion in the Kingdom of Saudi Arabia, with plans to develop up to 10,000 hotel rooms worth $2.5 billion.
Hotel101 has signed a joint venture partnership agreement with Horizon as the main partner for its expansion into Saudi Arabia with a vision to introduce the Hotel101 brand.
Horizon Group is a Saudi-headquartered investment company led by brothers Khaled and Abdulrahman Sharbatly, and Wael Daqal, with a focus on partnering and investing in industries with international market leaders.
Horizon has many partnerships and affiliations such as AlNahla Group and SAMACO, and is a market leader in its industry with a preference and focused on hospitality and manufacturing.
An initial five locations for Hotel101 projects have been identified, the first of which is intended to be located in Medina, followed by Riyadh, Jeddah, Abha and Alula.
Hotel101 said it recognizes the strategic opportunities presented by the Saudi market and is committed to rolling out a standardized and predictable hotel offering on average 500 rooms per site which can cater to the evolving and growing demands of the Saudi market.
In 2023, Saudi Arabia welcomed 27 million international tourists and 79 million domestic tourists, breaching the 100-million visitor mark. A total spend of $67 billion showcased the robust tourism sector of Saudi Arabia.
Saudi Arabia has a target of reaching over 150 million tourists by 2030. This provides substantial opportunities in support services and infrastructure in areas such as hotels, shopping, food and beverage (F&B), and transportation.
“We are inspired by the leaders of Saudi Arabia and their sheer determination and will power to make things happen, as such, we are confident in the plans they have laid out for the region and we believe the Hotel101 concept will be able to make a significant contribution in terms of room keys to complement the 2030 Vision for the Kingdom, and to form part of our global vision of one million Hotel101 rooms worldwide,” said Hotel101 Global Founder Edgar Sia II.
Hotel101 Chief Executive Officer (CEO) Hannah Yulo-Luccini added that, “We feel very fortunate to have found the right local partners to rapidly expand the Hotel101 brand in the Kingdom of Saudi Arabia, which is one of the 25 countries we have identified for the initial expansion of Hotel101.
“We see tremendous opportunities in the Kingdom of Saudi Arabia given the high growth in tourism both domestic and international. We believe Saudi Arabia will be one of the most exciting markets for Hotel101 globally.”
“With Hotel 101’s rapid-build model and Horizon’s local know-how, we will add 10,000 quality, affordable rooms across the Kingdom—supporting Vision 2030, creating Saudi jobs, and expanding options for pilgrims, tourists, and business travelers alike,” said Horizon Group CEO Abdulrahman Sharbatly.
The partnership unites Hotel 101’s high-efficiency HappyRoom concept and condo-hotel funding model with Horizon’s deeply rooted market expertise and expert connections in the region.

Related Tags

DoubleDragon Corporation Hotel101 Global Pte. Ltd. Nasdaq JVSPAC Acquisition Corporation
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