Jollibee Founder-Backed Hotel101 To Raise $300 Million To Bankroll Global Expansion |
Hotel101 Global—a unit of DoubleDragon, which is jointly owned by Philippine fast food giant Jollibee founder Tony Tan Caktiong and real estate tycoon Edgar Sia II—will raise $300 million through a preferred share sale to fund its global expansion plans.
The perpetual preferred shares will be sold in the U.S. where Hotel101 is listed, Manila-based DoubleDragon said in a statement, without stating the date for the sale.
The fund raising comes as DoubleDragon said it’s........