Hotel101 Global, the Nasdaq-listed subsidiary of Philippine-based DoubleDragon Corp., has formalized its aggressive push into the European market with a major project in Italy.
The company announced it has entered into a definitive joint venture agreement to develop a 429-room condotel in San Donato Milanese, a strategic area in Milan.
The new development is expected to significantly contribute to Hotel101 Global’s ambitious global targets and is projected to generate substantial sales revenue of 85.8 million euros on full completion and unit sale.
Each unit is being eyed at a sale price of approximately 200,000 euros.
The Milan property will feature a full suite of modern amenities, including a 24/7 reception, all-day dining, a 25-meter lapping pool, a full-size gym, and business facilities.
The design is planned to incorporate energy-efficient features and solar panels, aligning with modern sustainability trends.
This strategic entry into Italy is a key step in Hotel101’s unique “asset-light” expansion model, which leverages its “hassle-free hotel unit ownership” concept to attract both local and foreign investors.
The company stated the project is expected to foster economic growth in Milan through job creation, foreign investment, and increased tourism.
The Milan venture adds another significant flag to Hotel101’s rapidly growing international portfolio, which already includes projects under development in Niseko (Japan), Madrid (Spain), and Los Angeles (United States).
The company also recently secured a deal for 10 new hotel developments across Saudi Arabia.
Hotel101 Global is currently pursuing an audacious goal of being present in 25 countries within the next three years, with a long-term vision to establish approximately one million rooms across 100 markets globally.