The first homegrown Filipino hotel chain to is rising in Spain! This is after DoubleDragon’s subsidiary Hotel101 Global Pte Ltd signed a Binding Agreement for the purchase of 6,593 square meters of prime commercial land in the bustling city of Madrid.
The Hotel101-Madrid site in Avenida Fuerzas Armadas, Valdebebas, Madrid is surrounded by major landmark buildings. 3 minutes walk to the Valdebebas Train Station, 4 minutes walk to IFEMA convention complex, 5 minutes walk to Real Madrid Sports Complex, and around 7 minutes to the new Madrid Barajas International Airport.
Hotel101-Madrid will have about 736 rooms and will be the first Hotel101 development in Europe, according to the chain’s official press release. The usual Hotel101 facilities will also be available in Hotel101-Madrid such as an All Day Dining restaurant (concessionaire-operated), a Business Center, Swimming Pool, and a Fitness Gym as well as commercial space for a 24 hour convenience store.
DoubleDragon’s vision is for Hotel101 to become world-class in all standards and create job opportunities to Filipinos who reside in the Philippines or abroad. It also seeks to bring a pinch of pride and honor to each and every Filipino from anywhere around the world where Hotel101 will eventually locate and operate.
Robust condotel sales revenue of about €143.3 Million Euros (?8.8 Billion Pesos) is expected to be generated from the Hotel101- Madrid project given the high real estate investment demand in Madrid driven by the Spanish Golden Visa.