Filipino-owned Hotel101 Makes History in Nasdaq

NEW YORK CITY, UNITED STATES —Hotel101 Global Pte. Ltd., owned by the Double Dragon Corp. which operates the largest fastfood chain the Philippines Jollibee Corp. and Mang Inasal, has successfully listed at New York City’s National Association of Securities Dealers Automated Quotations (NASDAQ), the world’s first electronic stock market.

This is the first time that a Philippine-owned company is listed and traded at NASDAQ.

In an exclusive interview with TFCN, DoubleDragon independent director Vincent Perez, a former Philippine Energy Secretary and chairman of Alternergy Holdings Corp., said he’s grateful to be part of this important milestone for a Philippine-based company to first touch base at the world’s most active stock venue.

“Proud to witness the first Filipino listing of Hotel 101 Global on NASDAQ-the center of finacial capital for merging dynamic companies,” Perez said.

“While I as a former investment banker on Wall Street, helped bring Latin American companies to be listed in New York, this is my first time to be part of a company being listed, and more especially a Philippine company, making financial history as the first listed on NASDAQ,” Perez added.

Asked why the proponents of Hotel101 chose June 27 as a special date to list at the America’s busiest stock exchange, Perez said “They are Double Dragon-both born in the year of Dragon.”

“The date of this listing Friday is significant-on Friday the NASDAQ and S&P marketing indexes-hit an all time high Friday. Highest valuation ever,” Perez noted.

The owner of Hotel 101 is Double Dragon, a Philippine Stock Exchange (PSE)-listed real estate compamy, jointly owned by Injap Sia, the founder of Mang Inasal, and the family behind Jollibee, Tony Tancaktiong.

Hotel101 Global, which will trade under the ticker symbol HBNB, aims to become the largest hotel company in the Philippines and simultaneously become one of the top five hotel companies in the world.

Hotel101’s long-term vision is to have one million rooms, operating in over 100 countries worldwide.

Photo Source: Vince Perez, Hotel101