HOTEL101-Madrid, Spain, is now in full swing construction works as scheduled following the groundbreaking last March 2024.

Hotel101-Madrid is among the first three overseas Hotel101 projects, including one in Niseko Hokkaido, Japan, and one in Los Angeles, California. Overseas Hotel101 remarkably generated robust cash payment inflows from unit buyers, exceeding the company's expectations.

Property developer DoubleDragon hits the first milestone in its history to have received cash payments in foreign currency equivalent to over $10 million in the form of foreign currency cash from many retail buyers collected in just a few months, mainly in the second quarter of this year2024.

Given the trajectory of overseas projects, DoubleDragon expects to capture over $100 million (or about P5.8 billion) of contracted unit sales in the next 12 months.

The construction of Hotel101-Madrid Spain is being done by Ferrovial Construcción, one of the largest construction companies in Spain and is scheduled to be completed by Q4 2025.

Hotel101-Madrid is expected to open just in time for the start of the Madrid F1 Grand Prix, which happens to be located right beside the property.

The 680-room Hotel101-Madrid project is in a 6,593 square-meter prime commercial property recently purchased by Hotel101 located along Avenida Fuerzas Armadas, Valdebebas, Madrid. The property is about three minutes of walking to the Valdebebas Train Station, four minutes to the Ifema Convention Complex, five minutes to Real Madrid Sports Complex, and around seven minutes to the new Madrid Barajas International Airport.