DoubleDragon Properties
DoubleDragon Properties is a Philippine-listed real estate and hospitality company operating the Hotel101 standardized condotel brand across the Philippines, Spain, Japan, and Thailand, with a NASDAQ-listed international subsidiary and a retail arm via MerryMart Consumer Corp.
- Company typePublic
- Founded2009
- HeadquartersPasay City, Philippines
- Headcount501–1,000
- GTM typeB2C
- OfferingServices
What DoubleDragon Properties does
DoubleDragon Properties is a Philippine-listed (PSE:DD) real estate developer founded in 2009 and co-led by Edgar "Injap" Sia II and Tony Tan Caktiong, the founder of Jollibee Foods Corporation. The company operates a diversified property portfolio spanning hospitality, retail, and mixed-use developments, with its flagship being the Hotel101 brand. Hotel101 applies a standardized condotel model in which identically designed rooms are built across multiple cities and sold to individual investors, who share in the rental revenue — a structure designed to enable capital-light global scaling and uniform guest experience.
The portfolio spans the Philippines (Manila, Quezon City, Davao) and international assets in Madrid (Spain, 680 rooms), Niseko (Japan, 482 rooms), and Bangkok (Thailand, 770 rooms via joint venture with Origin Property PCL, expected ~$58M in sales). The international hospitality business was spun out into Hotel101 Global, which listed on NASDAQ in July 2025 at approximately $2 billion market capitalization, with a planned $300 million Series A perpetual preferred share offering on Nasdaq to fund further expansion. Domestically, DoubleDragon broadened into consumer retail through the June 2026 acquisition of approximately 99% of MerryMart Consumer Corp.
The business model combines three revenue streams: (1) direct hotel operations across owned and JV properties, (2) condotel unit sales to individual investors with ongoing revenue-share arrangements, and (3) retail and consumer revenue via MerryMart. The company has stated long-term targets of 1 million rooms across 100 countries by 2050 and ₱500 billion in revenue by 2035, with 2026 positioned as the largest growth year on record at 2,229 new rooms.
DoubleDragon Properties firmographics
Firmographics- Name
- DoubleDragon Properties
- Legal name
- DoubleDragon Corp.
- Website
- https://doubledragon.com.ph
- Company type
- Public
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- DoubleDragon Properties is a Philippine-listed real estate and hospitality company operating the Hotel101 standardized condotel brand across the Philippines, Spain, Japan, and Thailand, with a NASDAQ-listed international subsidiary and a retail arm via MerryMart Consumer Corp.
- Ownership category
- akta.pro rank
DoubleDragon Properties industry classification
Industry- Product category
- Hospitality Real Estate
- NAICS
- Hotels (except Casino Hotels) and Motels (72111), Accommodation (721)
- SIC
- Hotels & Motels (7011), Hotels, Rooming Houses, Camps & Other Lodging Places (7000)
- akta.pro primary industry
- Budget Hotel Chains & Franchises (THAGABAM)
- akta.pro secondary industries
- Franchised/Chain Motels (THAGAFAM), Value Inn / No-Frills Hotels (THAGABAL)
Keywords
Where DoubleDragon Properties is headquartered
LocationHeadquarters
- HQ city
- Pasay City
- HQ country
- Philippines
- HQ region
- Asia
Offices7 records
Markets served
DoubleDragon Properties business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Marketing or Sales, Supply Chain
Revenue model
- Hotel Room Revenue (HBNB Model): Long-term recurring revenue generated from hotel operations under the HBNB (Hotel101 Business Model) where DoubleDragon operates hotels and generates revenue from room bookings.
- Condotel Unit Sales: Sale of condotel units to individual investors who purchase ownership stakes. Investors receive 30% of gross room revenue with no maintenance costs.
- Joint Venture Development Revenue: Revenue from joint venture hotel developments such as Hotel101-Bangkok, expected to generate approximately 1.925 billion Baht (US$58 million) in sales revenue.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Investor returns from condotel ownership |
| Unit Pricing | Multi-year contract | Hotel101-Bangkok development project |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels1 record
DoubleDragon Properties product offering
Product offeringCore offering
DoubleDragon Properties develops and operates standardized condotel (condo-hotel) properties under the Hotel101 brand, selling individual hotel units to investors who receive 30% of gross room revenue with no maintenance costs, delivering approximately 7% annual yield over eight years. The company also acquired MerryMart Consumer Corp., a listed Philippine retailer, and pursues joint-venture hotel developments globally in markets including the Philippines, Spain, Japan, and Thailand.
Product overview
DoubleDragon Properties operates a portfolio of hospitality and retail businesses, primarily through its Hotel101 brand - a standardized condotel (condo-hotel) business model. Hotel101 offers individual investors ownership in hotel rooms with revenue-sharing (30% of gross room revenue) and no maintenance costs, generating approximately 7% annual yield over eight years. The company operates multiple Hotel101 properties across the Philippines, with international expansion to Madrid (Spain), Niseko (Japan), and Bangkok (Thailand). The portfolio also includes MerryMart Consumer Corp., a listed retailer acquired through 'Project Solidify' to consolidate into DoubleDragon's business ecosystem.
Differentiator
Problem solved
Functional benefit
Products and services
- Hotel101 Brand
- Hotel101-Madrid
- Hotel101-Davao
- Hotel101-Niseko
- Hotel101-Libis
- Hotel101-Bangkok
- HBNB Business Model
- MerryMart Consumer Corp.
Quantifiable outcome
- Approximately 7% annual yield over eight years for condotel investors
- +2 more outcomes
Companies that use DoubleDragon Properties
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles3 records
DoubleDragon Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
DoubleDragon Properties partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered flagship and core.
- Origin Property PCL / Origin HotelflagshipJoint venture development of Hotel101-Bangkok, an approximately 770-room hotel on an 8,336 sqm site along Phahon Yothin Road near Don Mueang International Airport. Project expected to generate approximately 1.925 billion Baht (US$58 million) in sales revenue and be completed by 2029.
- MerryMart Consumer Corp.coreDoubleDragon acquired nearly 99 percent of MerryMart shares through a tender offer as part of 'Project Solidify,' consolidating the listed retailer into its business ecosystem. Transaction valued at P9.30 per share combining cash and DoubleDragon shares.
Scale indicators14 records
Recent moves10 records
Expansion highlights6 records
DoubleDragon Properties competitors and assessment
Company assessmentBroad incumbents
- Hilton Worldwide: Global hospitality operator with brand tiers from luxury to focused-service. Overlaps with Hotel101 in the limited-service/midscale tier and competes for the same business and leisure traveler segments.
- InterContinental Hotels Group (IHG): Global franchisor with Holiday Inn and limited-service brands. Competes with Hotel101 for midscale travelers and operates a similar asset-light franchise structure at much greater scale.
- Marriott International: Largest global hotel chain with a broad portfolio spanning luxury to budget segments. Comparable as a multi-brand global operator with established distribution and loyalty, although far larger and broader than Hotel101's single standardized budget product.
Regional players
- RedDoorz: Southeast Asian budget hotel operator standardizing mid-tier independent hotels. Directly comparable as a regional budget-tier standardized brand, though focused on Indonesia/SEA rather than Philippines-international.
- Tune Hotels: Asia-Pacific budget hotel chain with limited-service, standardized rooms. Similar positioning to Hotel101's no-frills standardized offering, primarily in Malaysia and surrounding markets.
- Shangri-La Hotels and Resorts: Pan-Asian hospitality group operating hotels across Asia-Pacific including the Philippines. Comparable as a regionally anchored Asian hotel operator with multi-country presence, though focused on upscale rather than budget segments.
Direct peers
- OYO Rooms: Budget hotel aggregator/operator standardizing independent properties under a single brand. Highly comparable in its focus on standardized, budget-tier accommodations across emerging markets including Southeast Asia.
- The Ascott Limited: Serviced residence and apartment-style lodging operator with strong Asia-Pacific presence. Comparable to Hotel101's condotel/ownership-fragment model with revenue-sharing economics.
- Choice Hotels International: Franchise-heavy operator of budget and midscale brands (Comfort, Quality, Sleep Inn). Closely aligned with Hotel101's franchised/chain budget positioning and reliance on standardized room formats.
- Wyndham Hotels & Resorts: Pure-play franchisor of economy and midscale hotel brands (Days Inn, Super 8, Ramada). Directly comparable as a budget-tier, asset-light franchise model targeting similar value-conscious travelers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights5 records
Customer concentration
DoubleDragon Properties social profiles
Digital presenceDoubleDragon Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
DoubleDragon Properties leadership team
Management profileNumber of profiles
Profiles2 records
DoubleDragon Properties subsidiaries and ownership
Company hierarchySubsidiaries2 records
DoubleDragon Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DoubleDragon Properties M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DoubleDragon Properties
What does DoubleDragon Properties do?
DoubleDragon Properties develops and operates standardized condotel (condo-hotel) properties under the Hotel101 brand, selling individual hotel units to investors who receive 30% of gross room revenue with no maintenance costs, delivering approximately 7% annual yield over eight years. The company also acquired MerryMart Consumer Corp., a listed Philippine retailer, and pursues joint-venture hotel developments globally in markets including the Philippines, Spain, Japan, and Thailand.
Is DoubleDragon Properties a public or private company?
DoubleDragon Properties is a public company. It is classified as public and is currently operating.
When was DoubleDragon Properties founded?
DoubleDragon Properties was founded in 2009. It employs 501 to 1,000 people.
Where is DoubleDragon Properties based?
DoubleDragon Properties is headquartered in Pasay City, Philippines, in the Asia region.
How does DoubleDragon Properties make money?
Three revenue lines are on record. Hotel Room Revenue (HBNB Model) is the primary driver. The others are condotel Unit Sales and joint Venture Development Revenue.
Who are DoubleDragon Properties's main competitors?
Broad incumbents on record are Hilton Worldwide, InterContinental Hotels Group (IHG) and Marriott International. Regional players are RedDoorz, Tune Hotels and Shangri-La Hotels and Resorts. Direct peers are OYO Rooms, The Ascott Limited, Choice Hotels International and Wyndham Hotels & Resorts.
Does DoubleDragon Properties have an API?
No public API is recorded for DoubleDragon Properties.
What industry is DoubleDragon Properties in?
DoubleDragon Properties's product category is Hospitality Real Estate. Its primary akta.pro industry code is THAGABAM, Budget Hotel Chains & Franchises, with a secondary code of THAGAFAM, Franchised/Chain Motels. Its NAICS code is 72111 and its SIC code is 7011.