DoubleDragon’s Hotel101 enters the African continent
Hotel101 Global Holdings Corp. (NASDAQ Ticker: HBNB) (“Hotel101” or “Hotel101 Global”), a leading asset-light, prop-tech hospitality platform pioneering a globally standardized “condotel” business model, listed on the Nasdaq Stock Exchange and a subsidiary of Philippine-listed DoubleDragon Corporation (PSE Ticker: DD), announces the signing of definitive binding agreements for a country-wide development agreement for the expansion of Hotel101 in Egypt, starting with the development of an approximately 750-room Hotel101 in Cairo, Egypt.
This expansion marks a significant milestone in the company’s global growth strategy, bringing its novel, globally standardized condotel business model to one of the Middle East and Africa’s most dynamic capital cities and a major cultural tourism gateway.
The hotel, planned to occupy a prime site in Hay Al Ashgar along Ahmed Zewail Road in 6th of October City, Giza. This strategic position is expected to offer guests connectivity via major arterial roads, including El Wahat Road and the Cairo Ring Road, with access to Sphinx International Airport and the wider Greater Cairo road network. The area has rapidly emerged as one of West Cairo’s key growth districts, known for its modern infrastructure, improving transport links, and strong mix of residential, commercial, and tourism developments, while sitting within the broader catchment of the Giza Pyramids and the Grand Egyptian Museum.
Key Location Advantages:
- Prime Ahmed Zewail Road Position: Located along Ahmed Zewail Road with direct access to El Wahat Road and links to the Cairo Ring Road. Upon completion, guests expected to benefit from road connectivity and proximity to Sphinx International Airport, providing access for both domestic and international travelers.
- Proximity to Major Attractions: Situated within the West Cairo corridor serving the Giza Pyramids and Grand Egyptian Museum. The site, also expected to offer a balance of modern urban development and cultural tourism demand, with easy access to key attractions, residential communities, and commercial amenities across Greater Cairo.
Hotel101-Cairo West, expected to generate a total project value of approximately 5.465 billion Egyptian Pounds (US$102.09 million) and expected to complete by 2029, forming part of Hotel101 Global’s global expansion strategy.
Hotel101-Cairo West expected to offer 4-star amenities at affordable prices, including a ballroom, ample meeting spaces, and a conference center tailored for business events.
Moreover, consistent with Hotel101’s offerings across its locations globally, guests expected to enjoy modern rooms, 24/7 reception, all-day dining, swimming pools, a full-size gym, a business center, children’s playground, ample parking, luggage storage, and also other amenities.
The development is subject to customary governmental, regulatory, corporate and other approvals.
