DoubleDragon Properties Corp (DoubleDragon) announced that its hotel subsidiary, Hotel of Asia Inc, has secured an HLURB license to sell Hotel101-Davao located in Ecoland, Matina, Davao City.
Hotel101-Davao with its 519 rooms will be the biggest hotel in Mindanao occupying a sprawling 5,300 square meter prime corner commercial lot along Eco West Drive at the side of SM City Davao, according to DoubleDragon.
Hotel101-Davao will have a convention center, business meeting facilities, infinity pool, fitness gym, an all day dining restaurant and a commercial strip. The project is currently in full swing construction and is slated for completion by the end of next year.
A total of four (4) Hotel101 projects will be launched and to start pre-selling this year in Hotel101s located in Davao, Boracay, Bohol and Palawan with total new inventory valued at P12.21 Billion which DoubleDragon expects to fully sell out within the next two years.
Hotel101 is the flagship homegrown hotel brand of DoubleDragon and will make up majority of the 5,000 hotel rooms that DoubleDragon targets to have in its portfolio by 2020.
Hotel101 Davao is the third Hotel101 project to launch in the Philippines, following the success of Hotel101-Manila which was sold out prior to its opening and Hotel101 Fort which has achieved record sales of P1.86 Billion since its launch just barely a year ago. The brand itself is widely received with average occupancy well above industry average, said DoubleDragon Chief Investment Officer Hannah Yulo.
The Company targets to complete a leasable portfolio of 1.2 Million square meters by 2020 comprising of 700,000 square meters from 100 CityMalls, 300,000 square meters from its Metro Manila office projects DD Meridian Park and Jollibee Tower, 100,000 square meters from the planned 5,000 hotel rooms of Hotel101 and Jinjiang Inn Philippines, and another 100,000 square meters of industrial space from various CentralHub sites across Luzon, Visayas and Mindanao. – BusinessNews.ph