DoubleDragon Corp. (DD) is planning to list its hospitality business, Hotel101 Global, as a SGD 300-million real estate investment trust (REIT) on the Singapore Exchange (SGX).

In a disclosure to the Philippine Stock Exchange, DD said its board of directors approved the creation of a Singapore special purpose vehicle (SPV), named DD Hotel101 Worldwide One, which it will sponsor as a REIT.

“It is expected to become the fifth pure hospitality-listed REIT on the SGX,” the firm said, adding that the trust will hold a diversified portfolio of uniform Hotel101 units carved out from select projects across multiple countries.

DD noted that the deal “will create a permanent mechanism for capital recycling to complement the robust individual per-unit sales of Hotel101 projects globally. It may also include sub-REIT companies under it, depending on the most efficient structure in various jurisdictions.”

The strategic initiative aims to generate a deep, new revenue stream and attract established international developers as Hotel101 Global prepares to transition into Phase 3 of its expansion via a pure proptech, asset-light licensing platform.

The initial asset size of DD Hotel101 Worldwide One must reach SGD 300 million to qualify for an exemption from SGX's three-year operational history requirement.

Once listed, additional Hotel101 units from projects worldwide can be continuously infused into the REIT to steadily expand its recurring revenue asset base.

Currently, four hospitality REITs are listed on the Singapore Exchange: CDL Hospitality Trusts, Acrophyte Hospitality Trust, Far East Hospitality Trust, and CapitaLand Ascott Trust.

“This step will significantly enhance the attractiveness of the H101 PropTech Platform as it prepares to enter the third phase of hyper-growth via licensing,” DD said, explaining that the move forms part of the sequence required to achieve Hotel101’s goal of developing one million standardized rooms.

DD added that it intends to expand the H101 REIT platform over time through additional listings across major global stock exchanges.

“This strategy aligns with Hotel101 Global’s disciplined, asset-light, prop-tech hospitality model and supports the company’s ultimate vision of developing one million standardized rooms across more than 100 countries, with the goal of becoming the world’s largest single-brand hotel chain,” the firm said.

The DoubleDragon Group continues to tap various capital initiatives to strengthen its balance sheet and accelerate overall expansion.

The company currently operates the 518-room Hotel101-Manila and 606-room Hotel101-Fort in the Philippines, as well as the 680-room Hotel101-Madrid, which opened in March 2026. It is set to open the 482-room Hotel101-Niseko in Hokkaido, Japan, alongside 519 rooms in Davao and 548 rooms in Cebu. (James A. Loyola)