DOUBLEDRAGON Corp. on Thursday said that it had topped off the 548-room Hotel101-Cebu Mactan Airport with construction of the uppermost floor having been completed.
“Hotel101 will… have additional strategic seeds in place towards its near-term goal of becoming the top-of-mind branded hotel chain in the country and eventually, in other parts of the world,” DoubleDragon said in a filing.
The hotel, said to have been 100 percent sold out prior to the completion, is touted to be the biggest airport hotel in the Visayas and Mindanao.
It is located on a 5,493-square-meter prime commercial lot along the Cebu Mactan Airport Terminal Road near Mactan Marina Mall.
Hotel101-Cebu Mactan Airport will open within the first half of 2025, to be followed by the opening of another 519-room Hotel101-Davao.
Dynamic pricing will be used for room rates, similar to airline tickets, with prices depending on the real-time supply and demand.
Last Wednesday, DoubleDragon announced that it is setting up a P30-billion multi-year shelf registration for retail bonds to increase asset acquisitions.
The first tranche of P5 billion is targeted to be issued this quarter with an expected return of 8 percent per annum and a tenor of 5 to 7 years.
Succeeding tranches will be issued in 2025 at 7 percent and 6 percent for 2026.
DoubleDragon shares rose by 34 centavos to close at P10.46 each on Thursday.
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