DoubleDragon Hits ₱100B Equity, Expands Global Hotel101 Reach

DoubleDragon Corp. reported a consolidated net income of ₱2.05 billion in the first quarter of 2025, marking a 245% increase from the same period last year.

Total consolidated revenues surged 117% to ₱4.45 billion, largely driven by a 69% boost in sales of Hotel101 units, according to the company’s disclosure on May 19.

As of March 31, 2025, DoubleDragon’s total equity has surpassed ₱102.1 billion, crossing the ₱100-billion mark for the first time in its corporate history.

The company maintains a net debt-to-equity ratio of 0.76x, positioning it among the Philippine Stock Exchange’s most financially sound firms.

“Our aim is for DoubleDragon to become a globally-recognized company that originated from the Philippines and made its mark in the international scene,” said DoubleDragon Chairman Edgar “Injap” Sia II.

The company also announced it has completed over 1.4 million square meters of gross floor area (GFA) in recurring-revenue assets. These include community malls, offices, hotels, and warehouses spread across Luzon, Visayas, and Mindanao.

Many of these properties are located in underserved regions such as Cotabato City, Koronadal, Dipolog, and even Isulan, Sultan Kudarat.

“Our string of hard assets in prime locations, both in key cities and deep countryside areas, serves as a strong solid foundation for the company,” said Sia.

DoubleDragon’s ongoing portfolio expansion includes international holdings via its subsidiary Hotel101 Global, which recently broke ground on its first overseas hotel project in Madrid, Spain.

The hotel chain’s rapid overseas growth is expected to accelerate following a planned listing on the U.S. NASDAQ stock exchange.

“Hotel101 is a unique and exportable Filipino hotel concept that we believe can thrive globally,” said Sia.

Hotel101 Global is aiming to expand to 25 countries within the next three years, with a long-term goal of building 1 million rooms across 100 countries.

The brand’s asset-light business model is designed to contribute significantly to Philippine foreign exchange inflows and to promote Filipino hospitality abroad.

DoubleDragon also holds a PRS Aaa rating from the Philippine Rating Services Corp., the highest credit rating tier awarded locally.

The company is jointly owned by Injap Investments Inc., led by Mang Inasal founder Edgar “Injap” Sia II, and Honeystar Holdings Corp., led by Jollibee founder Tony Tan Caktiong.