Hotel101 Global to merge with JVSPAC Acquisition Corp, and list on NASDAQ

Hotel101 Global executives
Hotel101 Global signs definitive merger agreement with JVSPAC Acquisition Corporation to publicly list on the NASDAQ

Hotel101 Global Pte. Ltd., a subsidiary of the Philippine-based DoubleDragon Corporation, has announced a definitive merger with JVSPAC Acquisition Corporation. This strategic alliance is set to propel Hotel101, a trailblazer in the “condotel” sector, onto the NASDAQ stock exchange under the ticker symbol “HBNB.”

With an anticipated post-transaction equity value surpassing US$2.3 billion, Hotel101 is gearing up for a significant market debut in the latter half of 2024, pending approvals and customary conditions. The company’s innovative approach to hospitality, characterized by its globally uniform and asset-light model, positions it as a disruptor in the tourism industry.

Hotel101’s vision of a “one room” hotel chain offers unparalleled efficiency and value, with standardized rooms worldwide. This model not only streamlines construction, maintenance, and operations but also promises rapid expansion through various partnerships and licensing agreements.

Unlike traditional short-term rental platforms, Hotel101’s inventory is owned by individual unit owners, ensuring consistency and security for guests. The company’s proprietary app further enhances the guest experience with dynamic pricing and a simplified self-check-in process, thanks to a single room type offering.

Aiming to redefine the value segment, Hotel101’s large-scale properties boast amenities typically reserved for higher-tier hotels, including kitchenettes, pools, gyms, and business centers. This ambitious expansion has already seen the brand break ground in Madrid, Spain, and Hokkaido, Japan, with plans for a U.S. debut in Los Angeles.

Hotel101’s long-term goal is audacious: one million rooms across over 100 countries. The initial phase targets 25 priority countries, marking the beginning of what could be a new era in standardized global hospitality.

Hannah Yulo-Luccini, CEO of Hotel101, said: “Hotel101’s asset-light business model allows us to generate revenues twice: first from the pre-selling of strata-titled individual hotel units during the construction phase; and second, from the long-term recurring revenue derived from day-to-day hotel operations following completion of the units. Building on the success of our business model in the Philippines – where we have several operating properties and a number under development – and our ongoing international expansion to Japan, Spain, and the U.S., we believe that a NASDAQ listing will provide Hotel101 with access to public capital markets and help accelerate our global expansion plans.”

Edgar “Injap” Sia II, Chairman and CEO of DoubleDragon Corporation and Founder of Hotel101, said: “With its unique and novel concept, we believe Hotel101 has significant potential to successfully expand globally. We expect this to have a network effect that will further elevate the brand and benefit all stakeholders within its ecosystem. The standardization of a Hotel101 room globally means that a customer knows exactly what to expect wherever they may be in the world. Management also expects this formula to result in creating sustained value for consumers globally.”

Albert Wong, Chairman, JVSPAC Acquisition Corporation, said: “Today marks a significant milestone towards the successful completion of the business combination between JVSPAC and Hotel101. We sought out a partner that aligns with our vision and are confident that this merger will position us for long-term success. We are pleased to work with Hotel101 and believe its unique business model and the track record of its founders will be a disruptive force in the hospitality industry. We are honored to be part of their journey and be the ones introducing their business to the public capital markets.”

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