Hotel101 enters Nasdaq with JVSPAC acquisition
Deal News | Feb 02, 2025 | PR Newswire Cision Hotel101
Hotel101 Global Pte. Ltd, a Prop-Tech platform aimed at aggressive global expansion in the hospitality sector, has filed a confidential draft registration statement with the US SEC as part of its merger with JVSPAC Acquisition Corp, a special purpose acquisition company. The merger, first announced in April 2024, aims to list Hotel101 on the Nasdaq by mid-2025, with an expected equity valuation exceeding $2.3 billion. Hotel101, a subsidiary of the Philippines-listed DoubleDragon Corporation, intends to redefine hospitality through its standardized 'Condotel' model. This model seeks to offer consistent, high-quality services akin to short-term rental platforms but with further advantages such as city acceptance and uniformity, offering significantly more amenities typical of higher-tier accommodations. The brand's growth strategy includes constructing large-scale properties with advanced features and a long-term vision of expanding to over 100 countries, initially focusing on 25. This transaction still subject to approvals, represents Hotel101's ambitious step in scaling its innovative business model worldwide.
Sectors
- Hospitality
- Property Technology (PropTech)
- Special Purpose Acquisition Company (SPAC)
Geography
- Singapore – Hotel101 Global Pte. Ltd is based in Singapore.
- United States – Hotel101 plans to list on the Nasdaq, a US-based stock exchange, and has secured land for a hotel in Los Angeles.
- Philippines – Hotel101 is a subsidiary of DoubleDragon Corporation, which is listed in the Philippines.
- Spain – Hotel101 is currently constructing a 680-room hotel in Madrid, Spain.
- Japan – Construction for Hotel101-Niseko is underway in Hokkaido, Japan.
Industry
- Hospitality – Hotel101 operates in the hospitality sector, providing standardized hotel accommodation across multiple countries.
- Property Technology (PropTech) – Hotel101 is highlighted as a Prop-Tech platform, focusing on asset-light hospitality models through its 'Condotel' system.
- Special Purpose Acquisition Company (SPAC) – JVSPAC is a SPAC focusing on acquisitions, particularly in this case merging with Hotel101.
Financials
- $2.3 billion – Expected equity valuation of Hotel101 post-merger and Nasdaq listing.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hotel101 Global Pte. Ltd | Target company | Company | Hotel101 is a Prop-Tech platform aiming for global expansion in the hospitality sector with a standardized Condotel model. |
| JVSPAC Acquisition Corp. | Bidding company | Company | JVSPAC is a special purpose acquisition company focused on acquiring businesses for investment purposes. |
| DoubleDragon Corporation | Parent company | Company | DoubleDragon Corporation is a Philippine-based company and the parent company of Hotel101. |
| United States Securities and Exchange Commission | Regulatory body | Government | The SEC is involved as Hotel101 files a registration statement with them in anticipation of a Nasdaq listing. |
| Brunswick Group | Public Relations | Company | Brunswick Group is providing PR services for Hotel101. |