DoubleDragon Breaks Records: Over P100B Equity & 1.4M GFA in Hard Assets

DoubleDragon Corporation (DD) reported a strong start to 2025 with a consolidated net income of PHP 2.05 billion for the first quarter ending March 31—a 245% increase compared to the same period last year. Consolidated revenues surged by 117% to PHP 4.45 billion, driven in large part by a 69% increase in Hotel101 unit sales, particularly from its overseas projects.

As of March 31, 2025, DoubleDragon’s total equity stands at PHP 102.1 billion. Its net debt-to-equity ratio remains at a healthy 0.76x, among the lowest for publicly listed companies in the Philippines.

The company’s balance sheet is expected to strengthen further with the upcoming NASDAQ listing of its global hospitality subsidiary, Hotel101 Global.

DoubleDragon has now exceeded 1.4 million square meters of completed gross floor area (GFA) across its recurring revenue asset portfolio. These are strategically located across key areas in Luzon, Visayas, and Mindanao, with additional holdings overseas through Hotel101 Global.

DoubleDragon also maintains a top-tier PRS Aaa (Triple A) credit rating from Philippine Rating Services Corporation (PhilRatings), underscoring its strong financial position.

The company’s portfolio includes provincial community malls, office towers in Metro Manila, hotels, and logistics complexes nationwide. It is also one of the few companies with commercial real estate investments as far-reaching as Basilan and Sulu in the Bangsamoro Autonomous Region, contributing to countryside development and inclusive economic growth.

A major highlight in DoubleDragon’s portfolio is its proprietary and scalable hospitality brand, Hotel101—one of the Philippines’ most promising global business model exports. Hotel101’s asset-light model is designed to be replicated across continents. The first international Hotel101 project in Madrid, Spain is set for completion soon.

Hotel101 Global aims to expand to 25 countries in the next three years, with a long-term vision of reaching 1 million rooms in 100 countries—bringing Filipino hospitality to the world and contributing significantly to foreign currency inflows into the Philippine economy.

DoubleDragon Corporation is led by its principal shareholders: Injap Investments, headed by Mang Inasal founder Edgar “Injap” Sia II, and Honeystar Holdings, led by Jollibee founder Tony Tan Caktiong.