DoubleDragon Corp., a listed property developer, said Wednesday that its hotel subsidiary, Hotel of Asia Inc., has fully sold out Hotel101–Cebu Mactan Airport in just 21 months, over over a year ahead of target completion date.
Hotel101-Cebu Mactan Airport is a 548-room hotel now being built on a 5,493 square meter prime commercial lot along the Cebu Mactan Airport Terminal Road near Mactan Marina Mall.
DoubleDragon did not disclosure how much it generated from the pre selling of Hotel101-Cebu Mactan Airport project but earlier quoted an estimate of P2.3 billion.
With Hotel101–Cebu Mactan Airport as a new addition, Hotel101 now has the essential strategic seeds in place towards its near term goal of becoming the top-of-mind branded hotel chain in the country and eventually, in other parts of the world.
“Having just fully sold out the 548 room Hotel101-Cebu Mactan Airport project, and having fully sold out the first two Metro Manila Hotel101 projects– 606 room Hotel101–Fort and 518-room Hotel101–Manila, we are excited to very soon announce the start of our third Hotel101 project in Metro Manila and first in Quezon City, the 745-room Hotel101-Libis Bridgetowne in E. Rodriguez Avenue, Libis Quezon City,” said DoubleDragon Chief Investment Officer Hannah Yulo-Luccini.
Hotel101 pipeline of inventory from secured prime titled land sites in Cebu, Libis, Boracay, Palawan and Bohol is expected to generate P18.14 billion in revenue, excluding the dollar revenue to be generated from the Hotel101 overseas projects.
