Hotel101-Madrid unit buyers secure Spanish Golden Visas

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By Francis Allan L. Angelo

Hotel101 Global achieved a significant milestone this week, announcing that the first batch of unit owners of Hotel101-Madrid have been issued Spanish Golden Visas.

The investor visas, granted just six months and 16 days after the purchase of the units, are part of Spain’s residency-by-investment program, which offers residency to non-European citizens who make substantial investments in the country.

The Golden Visa program requires an investment of at least €500,000 (approximately PHP 30 million), typically fulfilled through real estate purchases. Investors in Hotel101-Madrid qualify by purchasing three units, making it a practical and attractive option for those seeking residency while avoiding the complexities of maintaining a traditional property abroad.

“Buying a Hotel101 unit does not reduce local housing inventory, which makes it a perfect solution for Spain, while providing Golden Visa applicants with a hassle-free investment,” DoubleDragon Corp chairman Edgar “Injap” Sia II said in a statement.

“This project will generate jobs, stimulate economic activity, and bring long-term benefits to both Spain and the Philippines.”

Hotel101-Madrid, with 680 rooms, is poised to become one of Europe’s largest hotels and will mark the brand’s first expansion outside the Philippines.

Its location in the Valdebebas area of Madrid, near major landmarks like the IFEMA convention complex and the Real Madrid Sports Complex, positions it strategically for both investors and visitors.

The project is expected to be completed by late 2025, just in time for the Formula 1 Grand Prix, which will be held nearby.

Hotel101 Global’s CEO, Hannah Yulo-Luccini, expressed optimism about the brand’s global traction, noting that “Hotel101 Madrid has done exceptionally well not only because it qualifies under the Golden Visa regime but also due to the strong potential revenue it offers.”

She also highlighted the growing interest from local Spanish investors, signaling broader confidence in the hotel’s financial prospects.

The construction of Hotel101-Madrid is being undertaken by Ferrovial Construcción, one of Spain’s largest construction companies.

The project is part of DoubleDragon’s larger expansion plan, with future developments slated for Niseko, Japan, and Los Angeles, USA.

DoubleDragon’s unique Hotel101 (HBnB) model, which emphasizes an asset-light, exportable concept, positions the company as one of the few Philippine firms with global ambitions in the hospitality industry.

Hotel101 Global is also eyeing a US listing in late 2024, a move expected to further boost international recognition and investment.

The success of the Hotel101-Madrid project is likely to drive further unit sales, as the Golden Visa option appeals to a diverse range of investors from around the world, solidifying the brand’s reputation as a key player in global real estate and hospitality sectors.