Hotel101 Global signs merger agreement to publicly list on the Nasdaq
Edgar Sia II, the self-made Filipino tycoon and Asia’s Most Influential 2023 honouree, continues to fuel the full recovery of the global travel industry. The property CEO’s Hotel101 Global moves forward with its public listing on the Nasdaq with the announcement of its merger agreement with JVSPAC Acquisition Corporation, the Hong Kong-based blank-check company that specialises in business combinations.
Upon completion of the transaction, Hotel101, which will debut on the Nasdaq under the ticker symbol “HBNB”, is expected to have an equity value of over US$2.3 billion. The transaction is projected to close in the second half of 2024.
Read Edgar “Injap” Sia II’s full profile on Asia’s Most Influential
Sia bets on Hotel101’s unique proposition of standardisation to disrupt the global tourism industry. By offering identical hotel rooms around the world, Hotel101 provides efficiency, simplicity, consistency and value to guests, especially those in the short-term rental market. “The standardisation of a Hotel101 room globally means that a customer knows exactly what to expect wherever they may be in the world,” said Sia in a statement. “Management also expects this formula to result in creating sustained value for consumers globally.”
Hotel101 offers amenities such as in-room kitchenettes, pools, gyms, business centres, all-day dining, function rooms and 24/7 front desks—features the company said other mid-tier players do not provide. Adding more value for travellers, its app will adopt dynamic room pricing and plans to offer self-check-in.
