Hotel101 Global Holdings Corp., a subsidiary of DoubleDragon Corp, said Tuesday it signed definitive binding agreements to develop a 766-room property in Melbourne, Australia.
The project, located at 540 Flinders Street in Melbourne’s central business district, is expected to be the largest hotel in the city by room count upon its targeted completion in 2029. Known as Hotel101-Melbourne, the development is projected to generate about Au$323.6 million in sales revenue, or roughly P12.6 billion.
The 4-star development will feature affordable rooms alongside meeting spaces and a conference center. DoubleDragon said the site is positioned near major transport hubs like Flinders Street and Southern Cross stations, as well as landmark destinations including Federation Square and the Southbank entertainment precinct.
The company expects the location to benefit from Melbourne’s major events, such as the Formula 1 Australian Grand Prix and the Australian Open. The Melbourne project is part of a broader expansion strategy for Hotel101 Global as it aims to operate in 100 countries using a standardized “condotel” model.
Hotel101 Global, which trades on the Nasdaq under the ticker HBNB, reached an equity valuation of $2.34 billion following its listing in the United States on Jan. 16, 2026. This marks the highest valuation for the asset-light hospitality platform since its debut.
DoubleDragon said the Australian project underscores a strategy of building a portfolio in prime locations both in the Philippines and overseas.
The company previously secured agreements for Hotel101 developments in Japan, Spain, Cambodia and Saudi Arabia.
