DoubleDragon posts record PHP 27.91 billion revenue

DoubleDragon Corp. said its total revenues reached a record PHP 27.91 billion in 2025, the highest in its corporate history.

The company said 2025 revenues were 56.3% higher than the PHP 17.86 billion posted in 2024.

The PHP 10.05 billion revenue increase was driven by significant fresh revenues from DoubleDragon’s overseas operations.

DoubleDragon said 2025 marked the beginning of its pivot away from fair value gains generated in previous years, as almost all of its leasing projects have already been fully built up.

The company said core revenues have started to dominate the composition of its total revenues, with a full shift to core revenues expected from 2028 onward.

Total assets stood at PHP 225.3 billion as of Dec. 31, 2025.

DoubleDragon said its debt-to-equity ratio remained below 1x, far lower than its 2.33x debt ceiling.

The company said it is the first and only Filipino company with a subsidiary listed on the U.S. Nasdaq Stock Exchange, giving it access to U.S. capital markets for its pipeline of equity and capital raises.

For 2026 onward, DoubleDragon said it aims to grow total revenues 18 times, or 1,800%, from PHP 27.9 billion in 2025 to PHP 500 billion in 2035.

The company expects 2026 to further boost core revenues and core income after incurring substantial one-time costs in 2025 related to its U.S. Nasdaq listing.

DoubleDragon also said 2025 marked the start of costs related to Hotel101 Global, or HBNB, executive and employee stock options, which form part of its strategic expansion plan in the Philippines and other countries.

Under its 2035 vision, DoubleDragon aims to exceed PHP 500 billion in global consolidated annual revenues and PHP 50 billion in net income by 2035.

The company also aims to fully nurture its hard asset portfolio in Luzon, Visayas, and Mindanao and complete its footprint in all 82 provinces in the Philippines by 2035, directly or through subsidiaries.

DoubleDragon said it also aims for Hotel101 Global to establish a footprint in 100 countries worldwide by 2035.

The company’s other 2035 goals are to become debt-free and generate annual cash dividends exceeding PHP 12 billion.

DoubleDragon said its portfolio combines diversified hard assets across the Philippines with Hotel101, an asset-light concept and business model that it said is exportable to other continents.

The company said Hotel101 integrates elements of a proptech hospitality platform and represents a new category within the global hotel industry.

DoubleDragon said it has prepared over the past four years for the potential disruptive impact of artificial intelligence agents.

The company said one of its strategic moves was to avoid exposure to large business process outsourcing tenants and to exit the condominium development business.

DoubleDragon said 2026 will bring its highest number of room openings in one year, with 2,229 additional hotel rooms scheduled to become operational.

These include 680 rooms in the recently opened Hotel101-Madrid in Spain, followed by 519 rooms in Davao, 548 rooms in Cebu, and 482 rooms in Niseko Hokkaido, Japan.

The 518-room Hotel101-Manila and 606-room Hotel101-Fort in the Philippines continue to operate at very high occupancy levels, the company said.

DoubleDragon said 2026 is expected to start generating a high volume of recurring revenues from provincial community mall leasing, industrial warehouse leasing, office leasing, and its hospitality portfolio in the Philippines and overseas.

The company said Hotel101’s global expansion is expected to eventually become one of the major U.S. dollar inflow generators for the Philippine economy.

DoubleDragon said Philippine companies can have a larger and lasting impact by developing unique and differentiated branded business models in the Philippines and exporting them globally.

The company said its team remains committed to making Hotel101 a global brand operating in various jurisdictions worldwide.

DoubleDragon said it started its expansion journey when it listed on the Philippine Stock Exchange as a start-up company in 2014 at PHP 2 per share.

As of May 31, 2026, DoubleDragon said its shares traded at PHP 10.18 each, or 5 times and 509% higher than its listing price.