DoubleDragon Corp. unit Hotel101 Global Pte Ltd is building a branch in Madrid with the purchase of 6,593 square meters of commercial land in the Spanish capital.
The 736-room hotel is the company’s first development in Europe.
The property developer projects sales revenue of about €143.3 million or P8.8 billion on the basis of the success of Spain’s Golden Visa program, essentially a residency-by-investment program.
Hotel101-Madrid is marketed as one of the five largest hotels in Madrid, Spain when completed and the first Filipino hotel chain to enter Spain.
“DoubleDragon’s vision is for Hotel101 to be world-class in all standards, create job opportunities for Filipinos in the Philippines and abroad, and bring a pinch of pride and honor to each and every Filipino from anywhere around the world where Hotel101 will eventually locate and operate,” the company said.
