DoubleDragon to sponsor S$300-M Singapore hospitality REIT for Hotel101

DoubleDragon Corp. on Friday announced the creation of a Singapore-based special purpose vehicle (SPV) that it will sponsor as a S$300-million real estate investment trust (REIT), aimed at unlocking recurring revenues from its Hotel101 developments.

The SPV — DD Hotel101 Worldwide One — is expected to become the fifth pure hospitality-listed REIT on the Singapore Stock Exchange (SGX), holding a basket of Hotel101 uniform units exclusively. It may also include sub-REIT companies.

According to DoubleDragon, the S$300-million initial asset size exempts the company from the three-year operational history requirement, with Hotel101 projects across the globe set to be continuously infused to continue the growth of its revenue asset base.

“This strategic initiative will create a deep and entirely new revenue stream. It will also become a major attraction for established developers in other countries as Hotel101 Global prepares to transition toward Phase 3 of its expansion via the pure proptech asset-light licensing platform,” the company said in an emailed statement.

“DoubleDragon Group continues to tap various capital initiatives to further strengthen its balance sheet and boost its overall progress towards its 2035 Vision,” it added.

Hotel101's first three overseas projects are located in Niseko, Hokkaido, Japan; Madrid, Spain; and Los Angeles, California, in the United States.

It also seeks to expand in areas such as the United Kingdom, the United Arab Emirates, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France, and China.

It targets to accumulate a portfolio of 1 million rooms in 101 countries before 2050.

DD Hotel101 Worldwide One will compete with four listed hospitality REITs in the Singapore Exchange — CDL Hospitality Trust, Acrophyte Hospitality Trust, Far East Hospitality Trust, and CapitaLand Ascott Trust.

DoubleDragon is targeting an 1,800% increase in total revenues by 2035, after posting a record-high P27.91 billion in 2025, mainly driven by stronger contributions from its overseas operations. –VBL, GMA News