DOUBLE DRAGON TO OPEN 1,0001 ROOM HOTEL IN BORACAY

HomeBlogDOUBLE DRAGON TO OPEN 1,0001 ROOM HOTEL IN BORACAY

Double Dragon continues its rapid expansion

The property developer DoubleDragon Properties Corp. is rapidly expanding in its hospitality segment with its project to build a 1,001-room hotel in the tourism estate of Global-Estate Resorts, Inc. (GERI) in Boracay. This hotel will be the biggest hotel in the country in terms of room count. Hotel of Asia Inc., DoubleDragon’s subsidiary, is partnering with Newcoast South Beach Inc. for the said project which will be represented under the Hotel101 brand.

Hotel101 Resort-Boracay is the fourth development after Manila, Fort Bonifacio in Taguig City and Davao City under the Hotel101 brand which aims to have a total of 5,000 hotel rooms in its portfolio by 2020. Currently, it has around 800 rooms under the Hotel101 and Jinjian Inn brands. DoubleDragon’s chairman Edgar Sia II said the project is part of the company’s plan to become a major player in the hotel industry.

Boracay is a well-known tourist spot here in the Philippines and so thousands of tourists visit the place every year. Given this, the hotel project will be a great investment of the company. This will boost DoubleDragon’s revenue while at the same time provide world-class reputation in the island and to the country as a tourist destination.

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Basically, the hotel will occupy two hectares on the beachfront cove of Newcoast, Boracay, occupying a total of 150 hectares. It will have a pool, outdoor deck, a business centre, meeting rooms, a function hall, and real, food and beverage offerings. In its effort to sustainable development, it will be employing eco-friendly initiatives in the construction and operation of the hotel. It will also adopt sustainable best practices from design to implementation and adopt sustainable practices to reduce and reuse energy, waste and water. Some areas will also have solar panels and rainwater harvesting system as well.

The company envisions Hotel101 to become the largest and most recognized hotel chain in the country providing the market with innovative, safe and a secure investment platform. It aims to have a total of 1.2 million square meters of leasable space and 100 community malls under the CityMalls brand which it aims to be the largest independently branded community mall chain in the country.

 

The brains behind Double Dragon 

DoubleDragon is a property company founded by Edgar Sia II and Jollibee Group founder and chairman Tony Tan Caktiong. It is a newly-listed company but has shown a year on year increase in its profits. The property sector has been aggressive with implementing projects this year since economic indicators have shown stable and sound results.

Technicals

The stock has been in a downtrend from March 2017 to December 2017. After which it started to consolidate from December 2017 to where we are now. The consolidation range is from 37 to 41.80.

For quick traders, you can buy as long as the stock holds above 37 and bounces off of it. And you can set your target price at 41.80 if it fails to breakout from that range. If the stock breaks out from 41.80, it will then target the next resistance at 44.40. If the stock retraces to 37 and fails to hold that range, avoid the stock first as it could go to 37.

For position traders, we don’t have a buy signal yet until we see  a clear reversal breakout at 44.40. Should a reversal occur there and stay above that range, that would be an opportunity for position traders to come in.

Please do note though, that even if DD has this news, the company is still pretty much expensive and it would be prudent to just use technicals and just trade this stock rather than invest and come in at expensive levels.

 

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