HOTEL101 GLOBAL Pte. Ltd., the Singapore-based unit of DoubleDragon Corp. (DD), is building two hotel projects in Cambodia that are slated for completion by 2028.
Hotel101 entered into definitive agreements with Cambodian real estate developer Canopy Sands Development Co. Ltd. to develop the 700-room Hotel101-Phnom Penh and the 680-room Hotel101-Sihanoukville, the company said in an e-mailed statement on Wednesday.
The two projects are expected to generate P6.3 billion ($109.55 million) in total sales revenue once fully sold and will be among the largest hotels in Cambodia in terms of room count upon completion, it noted.
“These landmark developments, the first to be located in Phnom Penh, the capital and commercial hub of Cambodia, and the second to be located at Bay of Lights in Sihanoukville, a burgeoning financial and tourism beacon, mark a pivotal step in Hotel101’s long-term vision to operate 1 million hotel rooms across 100 countries,” Hotel101 said.
The 30-floor Hotel101-Phnom Penh will rise on a 2,033-square-meter (sq.m.) parcel of land in the Tonlé Bassac district. It is near landmarks such as the Boeung Keng Kang upscale district, Aeon Mall 1, and the Independence Monument.
The project will include kitchenettes, a swimming pool, a fitness gym, all-day dining, a business center, function rooms, and commercial spaces.
The Hotel101-Sihanoukville will rise on a 4,623-sq.m. parcel of land within the $16-billion, 934-hectare Bay of Lights master-planned coastal development led by Canopy Sands Development. It will be located near Sihanoukville airport.
Both projects will feature Hotel101’s standardized 21-sq.m. “HappyRoom” units.
Hotel101 said the expansion seeks to take advantage of Cambodia’s 6.7 million international visitors last year, a figure expected to rise further with the opening of the new Techo International Airport in Phnom Penh on Sept. 9.
Cambodia is the sixth country with a Hotel101 presence after the Philippines, Japan, Spain, the United States, and Saudi Arabia. Other Hotel101 projects under development are in Niseko, Japan (482 rooms), Madrid, Spain (680 rooms), and Los Angeles, USA (about 622 rooms).
DD shares fell by 1.72% or 17 centavos to P9.71 apiece on Wednesday. — Revin Mikhael D. Ochave
