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The hotel business of Mang Inasal founder Edgar ‘Injap’ Sia II and Jollibee’s Tony Tan Caktiong trades under the ticker symbol HBNB
MANILA, Philippines – DoubleDragon’s Hotel101 Global officially became the first Filipino-owned firm to list on the Nasdaq Stock Exchange in New York with its market debut on Friday, June 27.
The hotel business of Mang Inasal founder Edgar “Injap” Sia II and Jollibee’s Tony Tan Caktiong trades under the ticker symbol HBNB with a projected equity value of $2.3 billion or around P130 billion.
Earlier in June, the US Securities and Exchange Commission approved the merger of Hotel101 and Hong Kong-based special purpose acquisition firm JVSPAC Acquisition Corp, paving the way for the former’s Nasdaq listing.
The Nasdaq listing is expected to provide Hotel101 with access to public capital markets abroad to fuel its global expansion.
So far, the firm has begun establishing a presence in the US, Japan and Spain. It also signed a partnership with the Horizon Group to bring its asset-light condotels to Saudi Arabia.
Hotel101 in Madrid, Spain was also designated as the official hotel partner for the Formula 1 Spanish Grand Prix in a 10-year deal. The 680-room property is located right beside the Madrid Grand Prix’s venue, and is scheduled for completion in the fourth quarter of 2025, right before the inaugural Madrid Grand Prix.
Share prices of Hotel101’s parent firm DoubleDragon ended Friday trade at the Philippine Stock Exchange down 2.11% to P13 apiece. – Rappler.com
