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JVSPAC Acquisition Corp. (Nasdaq: JVSA) is a special purpose acquisition company (SPAC) formed with the intent to effect a business combination. The firm's primary mission is to identify and merge with companies that show strong potential for growth and value creation. Recently, JVSPAC entered into a definitive merger agreement with Hotel101 Global Pte. Ltd., a subsidiary of the Philippine-listed DoubleDragon Corporation. Hotel101 is a pioneering hotel prop-tech operator specializing in a globally standardized, asset-light 'condotel' business model.
Upon completion of the proposed merger, the combined entity will be publicly listed on the NASDAQ under the ticker symbol 'HBNB.' Hotel101 is expected to have an equity value of over USD 2.3 billion following the transaction, which is anticipated to close in the second half of 2024, subject to regulatory and shareholder approvals.
Hotel101 offers a unique 'one room' concept aimed at disrupting the global tourism industry. By providing identical, standardized rooms worldwide, the company ensures unbeatable efficiency, simplicity, and value to its guests. The company operates on an asset-light model, making its properties cost-efficient to build, maintain, and operate. Hotel101's properties are purposely constructed as hospitality assets and offer consistent, secure, and predictable experiences for guests.
Hotel101’s innovative platform includes a proprietary app that supports dynamic pricing and self-check-in features. The company generates revenue through the pre-sale of strata-titled hotel units during construction and long-term recurring income from daily operations. Building on its success in the Philippines, where multiple properties are operational or under development, Hotel101 is expanding internationally to countries such as Japan, Spain, and the United States.
The long-term vision for Hotel101 is ambitious—aiming to have one million rooms operational in over 100 countries. The initial phase focuses on 25 priority countries including Japan, the U.S., the U.K., China, and Australia. The company is also expanding its footprint with new properties in Spain and Japan, and a planned site in Los Angeles, California.
DoubleDragon Corporation, the parent company of Hotel101, boasts a portfolio that spans over one million square meters of gross floor area, encompassing provincial community malls, office buildings, industrial warehouse complexes, and hotels. DoubleDragon has been listed on the Philippine Stock Exchange since 2014 and is primarily controlled by Injap Investments Inc. and Honeystar Holdings Corp., both led by prominent Filipino entrepreneurs.
JVSPAC's leadership, under the guidance of Chairman and CEO Albert Wong, brings decades of experience in management, investment, marketing, and capital markets. Mr. Wong also plays a crucial role in various firms including Kingsway Group Holdings and JVSakk Group, showcasing a robust track record in luxury product distribution and financial services.
For more information, interested parties are encouraged to visit Hotel101 Global or review additional filings and documents available at the SEC website.
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