Hotel101 Global, the hospitality unit of DoubleDragon Corp., said the first batch of Spanish investor visas, also known as “Golden Visas,” has been released to initial unit owners of Hotel101-Madrid. The milestone was achieved just 6 months and 16 days after their purchase of units in the real estate project in Spain.
The Golden Visa is a residence permit for non-European citizens who invest significantly in Spain, such as purchasing real estate valued at EUR500,000. Applicants are required to buy three Hotel101-Madrid units to meet the investment threshold.
The Hotel101 business model offers an optimal solution for both the Golden Visa host country and applicants. Investing in Hotel101 units does not deplete local housing inventories and alleviates the burden of property management for investors.
“It will be optional for the Hotel101 unit buyers to apply for a Golden Visa with their purchase. However, it’s important to note that our new inventory won’t reduce Spain’s housing stock; instead, it will stimulate economic activity through land acquisition, job creation, and ongoing tax contributions. We are excited about this long-term business endeavor, as the cultural ties between Spain and the Philippines will yield lasting benefits for both nations,” said DoubleDragon chairman Edgar “Injap” Sia II.
DoubleDragon stands out as one of the few Philippine companies with a diversified asset portfolio, having developed the unique Hotel101 concept, which is portable and scalable globally. The international expansion of Hotel101 is anticipated to be a major source of US dollar inflows to the Philippines.
“We are witnessing remarkable success with our Hotel101 projects globally. Hotel101 Madrid is performing exceptionally well, qualifying under the Golden Visa regime while offering retail investors a stake in Madrid’s thriving hotel industry. We have even seen an increase in local Spanish investors purchasing Hotel101 units, driven by confidence in the project’s revenue potential,” said Hotel101 Global CEO Hannah Yulo-Luccini.
Construction of Hotel101-Madrid is being carried out by Ferrovial Construcción, one of Spain’s largest construction firms. The 680-room hotel is expected to be completed by the end of 2025, coinciding with the inaugural Formula 1 Grand Prix race to be held nearby. Hotel101-Madrid will be one of the largest hotels in Europe and the first Hotel101 to operate outside the Philippines, followed by developments in Niseko, Hokkaido, Japan, and Los Angeles, California, USA.
