US SEC clears merger of Hotel101 Global, JVSPAC 

Hotel101 Global Holdings Corp., a subsidiary of DoubleDragon Corp. is one step closer to becoming the first Filipino-owned company to list on the Nasdaq, according to a report by Manila Standard.

This after the United States Securities and Exchange Commission approved its registration statement pertaining to the merger of Hotel101 Global and Nasdaq-listed JVSPAC Acquisition Corp.

The deal values Hotel101 at an equity value of $2.3 billion priced at $10 per share. The transaction is expected to close soon, depending on regulatory and shareholder approvals.

Once completed, the company will operate as Hotel101 Global Holdings Corp. and trade under the ticker symbol “HBNB” on the Nasdaq.

“This significant step towards Hotel101’s U.S. listing brings us closer to our vision of becoming the world’s first truly global one-room hotel chain. Our asset-light, prop-tech hospitality platform is built for efficiency and scalability, offering a globally standardized ‘condotel’ model that empowers individual real estate unit ownership in the hospitality sector while enhancing the guest experience,” said Hannah Yulo-Luccini, chief executive of Hotel101.

“This innovative approach creates a dual revenue stream – first, through the pre-sale of hotel units to individual unit owners, and then through long-term management and operations contracts. As we expand into key markets, including Japan and the U.S., we are taking a pivotal step through this listing that will help scale our model globally and redefine the global hospitality experience,” she said.

Hotel101’s model uses a single type of room across all its properties. This helps simplify operations, reduce costs, and offer a consistent guest experience.

The company earns revenue by pre-selling hotel units and through long-term hotel management.

Hotel101’s app has over one million users and offers services like reservations, check-in, and loyalty rewards. It uses dynamic pricing and self-check-in features.

The company is expanding to Japan, Spain, and the U.S. It has international marketing offices and aims to enter 100 countries in the long term.

“Hotel101 was built on a bold vision – to create an entirely new category of hotel that combines efficiency, predictability and scalability in a way that has never been done before. With its unique and novel concept, we believe Hotel101 has significant potential to successfully expand globally,” DoubleDragon chairman and chief executive Edgar Sia II said.