Philippines' Hotel101 enters Saudi deal in run-up to Nasdaq debut

Hotel101, the Filipino upstart aiming to create a fully standardised global hotel chain, has signed a joint venture with Saudi Arabia’s Horizon Group to bring its “one room” model to the Gulf kingdom.

The joint venture will begin with five hotels across major cities: Medina, Riyadh, Jeddah, Abha, and Alula. Between them, the properties are expected to offer 10,000 rooms and carry an estimated value of US$2.5 billion.

This expansion lands at a critical juncture. The brand - known for its identical rooms, tech-enabled operations, and a dual-revenue condotel model - is preparing for its Nasdaq listing through a merger with blank cheque firm JVSPAC Acquisition Corp. The deal, valuing Hotel101 at US$2.3 billion, could make it the first Filipino-owned company to trade on Nasdaq.

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Hotel101 CEO Hannah Yulo-Luccini is clear-eyed about the opportunity in the Kingdom. “We see tremendous opportunities in the Kingdom of Saudi Arabia given the high growth in tourism both domestic and international,” she said.

The first of the Saudi hotels will break ground in Medina. Once known for religious tourism alone, Saudi Arabia is opening its doors wider as it seeks to hit 150 million annual visitors by 2030 under the Vision 2030 reform programme. Hotel101, with its efficient and replicable format, appears tailor-made for this moment.

Saudi Arabia will be one of the most exciting markets worldwide, Yulo-Luccini added.

Same template, global ambition

Hotel101’s formula is unflinching in its standardisation. Each property offers the same room layout, the same in-room tech, and is operated via a centralised app for bookings, loyalty, and guest experience. This industrialised predictability, said the company, is its unique value proposition - especially for the mid-market segment often underserved by either budget hostels or high-end chains.

Founder Edgar “Injap” Sia II, who also built fast-food chain Mang Inasal into a national icon, believes the model has rapid international scalability.

“Hotel101 was built on a bold vision – to create an entirely new category of hotel that combines efficiency, predictability and scalability in a way that has never been done before,” he said. “We expect this to have a network effect that will further elevate the brand and benefit all stakeholders within its ecosystem.”

That ecosystem hinges on its “condotel” model, which sells individual units to buyers during development, allowing early capital injection. Once built, Hotel101 operates the hotels under long-term contracts, creating recurring revenue.

What the listing offers

With a growing footprint in Spain, Japan, and the US, and plans for 100 countries long-term, the company is banking on brand familiarity - and investor belief - to scale further. The upcoming listing is expected to offer just that: access to public capital and wider visibility.

“This significant step towards Hotel101’s US listing brings us closer to our vision of becoming the world’s first truly global one-room hotel chain,” said Yulo-Luccini. She described the platform as an “asset-light, prop-tech hospitality platform built for efficiency and scalability.”

In Madrid, Hotel101’s 680-room property is slated to open in time for the city’s upcoming Formula 1 Grand Prix. Properties in Hokkaido and Los Angeles are also underway.

Albert Wong, chairman of JVSPAC, is optimistic. “Hotel101’s innovative approach to hospitality has the potential to completely redefine the mid-market segment,” he said. “We look forward to supporting Hotel101 as it executes its global expansion strategy and enters the public markets.”

The Filipino company is counting down to JVSPAC's June 24 shareholder meeting and possible listing soon after.

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