Hotel101, Filipino condotel firm, lists on Nasdaq with $2.3B valuation

Hotel101 Global Holdings Corp., a condotel business of DoubleDragon Corp., will begin trading on the Nasdaq Stock Exchange in New York on July 1, marking it as the first Filipino company to list there.

Analysts believe that Hotel101's listing could encourage more foreign investors to consider Philippine companies and raise awareness about the local corporate sector globally.

Hotel101 completed its business combination with JVSPAC Acquisition Corp., raising funds ahead of its market debut to expand globally, aiming for over one million hotel rooms across 100 countries.

The company's shares will be traded under the ticker symbol 'HBNB' and are valued at $2.3 billion or P130 billion after securing approval from the US Securities and Exchange Commission (SEC).

Hotel101 is currently building hotels in Japan, Spain, and the United States, including a 680-room facility in Madrid set to open by year-end.