Hotel101 Global gets approval to list on Nasdaq
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OTEL101 Global Holdings Corp. (“Hotel101” or “HBNB”), an asset-light, prop-tech hospitality platform business designed for rapid global growth, announced that it has received approval to list on the Nasdaq Stock Exchange, and its shares are set to begin trading on July 1. Hotel101 celebrated its United States public listing by ringing the opening bell. Trading is scheduled to commence under the ticker symbol “HBNB” following the expected completion of Hotel101’s business combination with JVSPAC Acquisition Corp. (Nasdaq: JVSA), which was approved by JVSPAC shareholders on June 24. With a deemed equity value at clos-
NASDAQ, INC./VANJA SAVIC
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ing of $2.3 billion, Hotel101 is the first Filipino-owned company to be listed and traded on the Nasdaq. Hotel101 is a subsidiary of Philippine-listed DoubleDragon Corporation (PSE: DD). The ceremony can be viewed at https://www.nasdaq.com/marketsite/bell-ringing-ceremony and on the Nasdaq MarketSite Tower in Times Square. “Today is an exciting milestone in Hotel101’s journey to become the world’s first truly global one-room hotel chain. Hotel101 was born from a simple, revolutionary idea: a ‘one room’ global hotel brand delivering consistent comfort and irresistible value worldwide. Our asset-light, technology-driven platform positions us to scale rapidly, with a goal
to disrupt the hospitality industry globally with 1 million rooms across 100 countries,” said Hannah YuloLuccini, CEO of Hotel101. “This is a historic moment for DoubleDragon, becoming the first-ever Filipino company with a subsidiary listed and traded on the Nasdaq. It reflects the strength of our vision and the dedication of everyone who has helped bring Hotel101 to this global stage. And we’re just getting started—with a globally scalable model and a long runway ahead, we aim to redefine the industry and become a leading global hospitality brand working towards our vision of an inventory of 1 million Hotel101 rooms globally,” said Edgar “Injap” Sia II, chairman and CEO of DoubleDragon Corpora-
tion and Founder of Hotel101, said:
Accelerating global expansion
HOTEL101’S management believes that Hotel101 properties are efficient to build, maintain, and operate--as well as scale and expand through direct development, joint venture partnerships, and franchise arrangements. Building on the success of Hotel101branded properties in the Philippines—where there are two operating properties and a number under development—Hotel101 intends to accelerate its global expansion plans. Hotel101-Madrid, a 680-room development adjacent to the new Formula 1 (“F1”) Spanish Grand Prix Circuit in Valdebebas, is slated for See “Hotel101,” A2
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Monday, June 30, 2025 Vol. 20 No. 260
P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK
By Cai U. Ordinario @caiordinario
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HE impending end of the 90-day pause on the reciprocal tariffs of the United States has made local business less optimistic in the second quarter, according to the Bangko Sentral ng Pilipinas (BSP). BSP FLAGS SLOWER OUTLOOK FOR JOBS, GROWTH, INVESTMENT Expansion Intentions Fall Percentage of Firms (%)
45 40 35 30 Q2 2024
Q1 2025
Q2 2025
22 21 20 19 18 17 16
Q1 2025
n Current Quarter n Next Quarter n Next 12 Months
Q2 2025
n Q3 2025 n Next 12 Months
Biggest Business Constraints
Tariff uncertainty cited as top concern. Firms still wary despite 90-day pause on US tariff hike. Slower seasonal demand + expiring contracts weigh on sentiment.
Domestic competition Insufficient demand High interest rates
59.8% 33.5% 22.8%
BM Graphics: Ed Davad
Confidence Index (%)
Business Confidence Index 50
See “BSP,” A2
EDGARD CABANGON HAILED AS ASIA’S ICON OF IMPACT IN BUSINESS LEADERSHIP
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N recognition of his outstanding leadership and enduring contributions to the business sector, D. Edgard A. Cabangon, Chairman of the ALC Group of Companies, was conferred the title “Asia’s Icon of Impact in Business Leadership” at the 2025 Asia’s Golden Icon Awards held on Friday, June 27, 2025, at Okada Manila. See “Edgard,” A2 ALC Group Chairman D. Edgard A. Cabangon was represented by his children, Dannica Nicole A. Cabangon (center) and Antonio Carlos G. Cabangon (rightmost), at the 2025 Asia’s Golden Icon Awards. They were joined in the photo by Dr. Ronnel Ybanez (leftmost), Chairman and Founder of the award-giving institution.
Freshly Brewed
NO LAND. MINIMAL WATER. MAXIMUM FISH. DR. ARLYN ARREGLADO MANDAS REVEALS HOW CUTTING-EDGE AQUACULTURE LETS YOU GROW MORE FISH IN LESS WATER »A12
ISLE BE SUSTAINABLE: KALANGGAMAN CAPS VISITORS AT 500 DAILY Guests enjoy the pristine sands of Kalanggaman Island, a bird-shaped sandbar in Leyte known for its migratory bird visits and its role as a breeding ground for sea turtles and manta rays. To protect its delicate ecosystem, the local government of Palompon allows only 500 visitors per day. Vice Mayor Javes Keith Dela Calzada said the local government unit is committed to preserving the island’s natural charm while offering a peaceful escape from the hustle and bustle of city life. The promotion is also supported by AirAsia’s “See You in Leyte” tourism campaign. BERNARD TESTA
Govt cuts 2025 privatization goal—DOF By Reine Juvierre S. Alberto
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@reine_alberto
HE Department of Finance (DOF) significantly slashed the privatization target to P5 billion this year due to difficulties encountered by the government in selling state assets. On the sidelines of the Development Budget Coordination Committee (DBCC) last Thursday, Finance Assistant Secretary Karlo F. Adriano told reporters that the DOF adjusted the privatization target for this year. “It’s not easy to sell governmentowned properties, and there are also legal issues,” Adriano said. The DOF initially planned to raise P101.02 billion this year from
privatizing government assets to fund priority programs. However, because of the delays in disposing of government assets, the privatization target for the year was reduced to just P5 billion from P101.02 billion. The P96-billion reduction was reallocated to the non-tax revenue target, which has been raised to P306.8 billion from the initial P210.8 billion. Adriano said the P101-billion target will still be pursued, but for 2026 instead. “We expect those to materialize next year,” he said. This is more likely to be achieved since the inter-agency Privatization Council (PrC) revised the 24-year-
old Guidelines on the Privatization and Disposition of Assets, which took effect last March 11. This will institutionalize and harmonize the policies and processes to ensure that public assets are put to productive use by the private sector. Privatization and Partnerships Group (PPG) Undersecretary Catherine L. Fong said there are over 28,000 titles, mostly small assets measuring about 200 square meters, up for sale to the public. Major government assets include the Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plant in Laguna, Food Terminal Inc. in Taguig City and Mile Long Complex in Makati City.
The adjusted targets come after the DBCC lowered the fullyear revenue program to P4.520 trillion from P4.644 trillion on prospects of slower economic growth, reduced import volumes and lower tariff collections. (See: https:// businessmirror.com. ph/2025/06/28/revenue-goalc ut-to-%e2%82%b14-5t-onslow-growth/) The Bureau of Internal Revenue will raise P3.219 trillion, while the Bureau of Customs will generate about P990 billion. Next year, revenues are expected to hit P4.983 trillion, or 16.2 percent of GDP. This is seen to reach P5.914 trillion in 2028, or by the end of the Marcos Jr. administration.
PESO EXCHANGE RATES n US 56.6270 n JAPAN 0.3924 n UK 77.7715 n HK 7.2144 n CHINA 7.9009 n SINGAPORE 44.4691 n AUSTRALIA 37.0624 n EU 66.2536 n KOREA 0.0418 n SAUDI ARABIA 15.0989 Source: BSP (June 27, 2025)