DOUBLEDRAGON Properties Corp. will launch pre-selling activities in three new Hotel 101 projects this year, namely Hotel 101-Cebu, Hotel 101 Resort-Boracay and Hotel 101-Libis.
These three new hotels will bring a total of 2,251 new rooms to the company’s portfolio.
A total of P11.03 billion in sales revenues is expected to be generated in these new projects, the firm told the local bourse Wednesday, April 21, 2021.
The Hotel 101 model being a three-star affordable hotel maintained high occupancy as it provided accommodation to employees of business process management companies even at the height of the pandemic.
In fact, the 518-room Hotel 101-Manila maintained a strong occupancy at 80.11 percent in 2020. One hundred percent of the inventory of Hotel 101-Fort was also fully sold out during the pandemic.
Hotel 101-Cebu is located along the Mactan-Cebu International Airport Road near the Mactan Marina Mall.
The listed firm through its subsidiary Federated Realty of the U-Bix Group signed a joint venture agreement in 2019 to build Hotel 101-Cebu.