DoubleDragon Properties Inc. and businessman Enrique Gonzalez formed a joint venture to build a 1,001-room hotel within a 150-hectare township in Boracay.
DoubleDragon said in a disclosure to the stock exchange Hotel101 Resort-Boracay would soon rise on a two-hectare lot within Boracay Newcoast of Global Estate and Resorts Inc. and was expected to the the biggest hotel in the Philippines in terms of room count.
Hotel101 Resort-Boracay is a joint venture project of Hotel of Asia Inc., a subsidiary of DoubleDragon and Gonzalez-led Newcoast South Beach Inc.
As a masterplanned tourism estate development, Boracay Newcoast is envisioned to become the new side of Boracay as it hosts its own commercial, retail and boutique hotel districts, residential condominiums, residential villages, hotels and resorts, surrounded by its own golf course.