{"id":329921,"date":"2024-10-15T10:48:07","date_gmt":"2024-10-15T02:48:07","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329921"},"modified":"2024-10-15T10:48:08","modified_gmt":"2024-10-15T02:48:08","slug":"trade-the-news-dd-tops-off-hotel101-cebu-mactan-airport","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-dd-tops-off-hotel101-cebu-mactan-airport\/","title":{"rendered":"Trade the News: DD tops off Hotel101-Cebu Mactan Airport"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>DoubleDragon Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>DD<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 10.30<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

DoubleDragon Corp. (DD) is on track to open its 548-room Hotel101-Cebu Mactan Airport early next year after completing the building\u2019s structure and topmost floor.<\/p>\n\n\n\n

The property venture of tycoons Edgar \u201cInjap\u201d Sia II and Tony Tan Caktiong held a topping-off ceremony for the project on Thursday.<\/p>\n\n\n\n

The 548-room hotel project is strategically located on a 5,493-square-meter prime commercial lot along the Cebu Mactan Airport terminal road near Mactan Marina Mall.<\/p>\n\n\n\n

DoubleDragon expects to open the doors of Hotel101-Cebu Mactan Airport within the first half of 2025, which is poised to become the biggest airport hotel in the Visayas and Mindanao.<\/p>\n\n\n\n

The company said the Cebu Mactan hotel project has been fully sold as all the units have been pre-sold prior to completion.<\/p>\n\n\n\n

Apart from the Cebu project, DoubleDragon also intends to launch the 519-room Hotel101-Davao in the next few months.<\/p>\n\n\n\n

Together, both hotel projects will add over 1,000 additional operating rooms to Hotel101\u2019s growing portfolio, with more projects expected here and abroad.<\/p>\n\n\n\n

These hotel developments are aligned with the Hotel101 group\u2019s goal of achieving one million operating rooms before 2050.<\/p>\n\n\n\n

Of the target, 50,000 rooms are intended to be unveiled in the Philippines to further solidify Hotel101\u2019s status as the largest hotel company in the country.<\/p>\n\n\n\n

Earlier, DoubleDragon announced plans to raise P30 billion via multiple bond issuances from 2024 to 2026 to further strengthen its financial position.<\/p>\n\n\n\n

For the first tranche, the company intends to offer up to P10 billion next month, which it said could become one of the last long-term offerings available in the country this year.<\/p>\n\n\n\n

Since its public listing in April 2014, DoubleDragon has used proceeds from most of its capital-raising activities in building up its portfolio to 1.3 million square meters of completed gross floor area.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329921","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329921"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329921\/revisions"}],"predecessor-version":[{"id":329923,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329921\/revisions\/329923"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}