Listed property developer DoubleDragon Corp. reported that its Hotel101-Madrid property reached full occupancy on June 10, three months after the hotel opened. The company said in a statement on Thursday that the 680-room hotel was fully booked before the end of the day, pointing to strong demand for its first overseas hotel under the Hotel101 brand.
The milestone underscores the viability of the Hotel101 concept in international markets, according to the company. The property in Madrid marks the first of several planned overseas expansions under the brand, which aims to offer standardized, budget-friendly accommodations.
DoubleDragon, known for its mixed-use developments and retail spaces in the Philippines, continues to explore opportunities abroad. The success of Hotel101-Madrid in achieving full occupancy within a short period bodes well for the brand's international rollout strategy, the company said.