Hotel101 Madrid occupancy hits 97.41% in October

SINGAPORE — Hotel101-Madrid generated a record EUR 2,929,778 in recurring room revenue in October as average occupancy reached 97.41%, DoubleDragon Corp. said.

The company rounded the result to EUR 2.93 million, equivalent to about USD 3.28 million or PHP 209 million, for stays from Oct. 1 to 31, 2026.

For Philippine investors, the result matters because it shows that DoubleDragon’s first overseas Hotel101 can produce recurring foreign-currency revenue after the units have been sold.

The monthly figure also tests whether the group can repeat its standardized, asset-light model abroad without relying on property revaluation gains.

The 97.41% occupancy rate meant more than 660 of the hotel’s 680 standardized “HappyRooms” were occupied each day during the month.

All 680 units at the Madrid property have been sold, according to the company.

The revenue estimate is preliminary and unaudited, relates only to October stays, and remains subject to change, Hotel101 Global said in its investor release.

The company also cautioned that one month’s result does not necessarily indicate performance in a future period.

Hotel101-Madrid opened on March 10, 2026, as the first Hotel101-branded property outside the Philippines.

The Valdebebas hotel sits minutes from Adolfo Suárez Madrid-Barajas International Airport and IFEMA, one of Europe’s largest convention and exhibition centers.

It is also adjacent to Real Madrid Sports City and the Formula 1 Spanish Grand Prix circuit.

Hotel101 said the property held a 9.1 “Exceptional” rating from more than 9,700 reviews across major online travel agencies as of Oct. 31, 2026.

The hotel recorded more than 95,500 arrivals from over 100 nationalities between its March opening and Oct. 31.

Guests from Spain led arrivals at 39%, followed by the United States at 7%, Portugal at 4%, China at 3%, and Mexico at 3%.

Europe accounted for 63.3% of arrivals, Latin America 16.1%, North America 8.5%, and Asia 6.2%.

Filipino guests represented 0.55% of the more than 95,500 arrivals during the period.

Under the condotel arrangement, unit owners collectively receive 30% of monthly gross room revenue after applicable taxes and statutory charges.

The amount is distributed equally across all units and paid by the 16th day of the following month.

Hotel101 generates revenue first from selling standardized units and again from recurring hotel operations.

The company calls Madrid its global prototype and operating springboard for expansion through joint ventures and future license agreements.

Management’s long-term target is one million standardized rooms across 100 countries and a place among the world’s top hotel brands.

Elsewhere in the disclosure, DoubleDragon described the goal as one million rooms in more than 100 countries and the world’s largest single-brand hotel chain.

Hotel101-Niseko in Hokkaido, Japan, is scheduled to open in December 2026 as the next overseas property.

DoubleDragon said the Niseko property would be the largest hotel by room count in Kutchan Niseko, Hokkaido.

DoubleDragon framed the expansion as the export of a Philippine-developed business model and expects overseas operations to make it a major USD inflow generator for the Philippine economy.

At the parent level, consolidated revenue and core revenue each reached PHP 20.78 billion in the first nine months of 2026.

DoubleDragon said the total consisted entirely of core revenue, with no revaluation gains.

Consolidated revenue rose 98.76% year on year, while core revenue increased 143.65%.

Foreign-currency revenue supplied 59.03% of quarterly core revenue, marking its first majority contribution to the revenue mix.

Core net income climbed 253.59% year on year to PHP 3.91 billion in the first nine months.

Third-quarter net income reached PHP 1.13 billion, more than six times the PHP 183.67 million reported a year earlier.

Total assets stood at PHP 256.82 billion as of Sept. 30, 2026, up PHP 31.56 billion from PHP 225.26 billion at the end of 2025.

Total equity reached PHP 107.02 billion as of Sept. 30, an increase of PHP 5.41 billion from year-end 2025.

The company said it had no ongoing residential condominium development and no exposure to large business-process outsourcing locators.

DoubleDragon projected a further increase in second-half 2026 core revenue from leasing, new malls, warehouses, office tenants, MerryMart supermarkets, and Hotel101 unit sales in the Philippines and overseas.

The group said it continued to pursue capital initiatives to strengthen its balance sheet and support its 2035 vision.