Philippine-based real estate developer DoubleDragon Properties Corp.—a joint venture between Mang Inasal founder Edgar “Injap” Sia II and Jollibee Foods Corp. owner Tony Tan Caktiong—is bringing its Hotel 101 brand to the beachfront cities of Boracay and Bohol. The company already has three properties under the brand open or in development.
Hotel 101 is a brand of Hotel of Asia Inc., a subsidiary of DoubleDragon, which is aiming to have a total of 5,000 guestrooms in its portfolio by 2020. HOA operates the Hotel 101-Manila near Mall of Asia. The hotel rooms are offered to real estate investors in exchange for an opportunity to earn from its occupancy.
DoubleDragon chair Sia II said that the group was investing P2.23 billion to build the 519-guestroom Hotel 101 in Davao City, which would be Mindanao’s biggest hotel. The Davao hotel is expected to break ground in the last quarter of the year and may open in 2020. The 608-guestroom Hotel 101-Fort Bonifacio, now under construction, would cost P2.9 billion.
The Davao property is a joint venture between HOA and Davao-based W2JP2 Corp.
Apart from Hotel 101, HOA is also exclusive master franchisee of JinJiang Inn in the Philippines. JinJiang Inn, one of the largest hotel chains in China, caters to growing tourists from mainland China. HOA currently operates two JinJiang Inns in the Philippines. The JinJiang Inn-Boracay and Ascott-DD Meridian Park Manila would also start construction this year, Sia said.