Philippines’ Hotel101, founded by Jollibee owner, eyes million-room, 100-country milestones while standardising rooms with dynamic pricing
- The Philippines hotel chain aims to merge with Hong Kong-based JVSPAC Acquisition Corporation this year ahead of a Nasdaq listing
- Hotel101 is seeking to expand in 25 countries including popular tourist destinations in Europe, Southeast Asia and the Middle East by 2026
Hotel101, a unit of property developer Double Dragon, has agreed to merge with Hong Kong-based JVSPAC Acquisition Corporation, and the combined entity targets a NASDAQ listing in the second half of this year, said CEO Hannah Yulo-Luccini. Nasdaq-listed special purpose acquisition company (SPAC) JVSPAC is based in Hong Kong.
The combined entity which is expected to be valued at US$2.3 billion aims to become the first Filipino company to list via SPAC on the Nasdaq.
“The listing in Nasdaq will elevate the brand in a totally different way, globally,” said Yulo-Luccini. “And as we build more hotels, the more recognised the brand will be, the bigger the ecosystem and more beneficial to all the stakeholders.”
In the near term, Hotel101 is seeking to expand in 25 countries including popular tourist destinations such as France, Italy, Switzerland, Thailand, Malaysia, Vietnam and the United Arab Emirates by 2026.
