DoubleDragon Corporation posted its highest annual revenue on record in 2025, reporting consolidated revenues of P27.91 billion, up 56.3 percent from P17.86 billion in 2024.
The P10.05-billion increase was largely attributed to fresh contributions from the company’s overseas operations, marking a significant shift in the composition of DoubleDragon’s earnings.
According to the company, 2025 represents the beginning of its transition toward a business model increasingly driven by recurring revenues. With the majority of its leasing portfolio already completed and operational, DoubleDragon said core revenues are now becoming a larger component of its overall income, reducing its reliance on fair value gains that contributed significantly to previous years’ results. A full transition to core revenue sources is expected by 2028 onwards.
As of Dec. 31, 2025, DoubleDragon’s total assets stood at P225.3 billion. The company also maintained a debt-to-equity ratio below one times, significantly lower than its stated debt ceiling of 2.33 times.
The company noted that it remains the only Filipino firm with a subsidiary listed on the U.S. Nasdaq Stock Market, providing access to U.S. capital markets to support future fundraising initiatives and expansion plans.
Looking ahead, DoubleDragon has outlined an ambitious long-term growth target. The company aims to increase annual revenues from P27.9 billion in 2025 to P500 billion by 2035, representing an 18-fold expansion over the next nine years.
The broader vision includes exceeding P50 billion in annual net income by 2035, completing its hard asset footprint across all 82 provinces in the Philippines through direct ownership and subsidiaries, expanding Hotel101 Global into 100 countries, becoming debt-free, and generating more than P12 billion in annual cash dividends.
The company said it expects further growth in core revenues and income beginning this year, noting that 2025 results were affected by one-time expenses related to its Nasdaq listing as well as executive and employee stock option costs associated with Hotel101 Global’s expansion plans.
DoubleDragon’s strategy combines a portfolio of real estate assets across Luzon, Visayas and Mindanao with the continued development of Hotel101, a hospitality concept the company views as scalable across international markets.
The company said Hotel101’s business model integrates elements of hospitality, property technology and platform-based operations, positioning it for expansion beyond the Philippines. It believes the concept represents a differentiated offering that can be replicated in multiple countries.
DoubleDragon also emphasized preparations it has undertaken over the past four years in anticipation of technological disruptions, particularly those related to artificial intelligence. The company said it has deliberately avoided exposure to large business process outsourcing tenants and has exited the condominium development segment, citing concerns over oversupply and potential future impacts of AI on traditional office occupiers.
Instead, it has focused on developing Hotel101 as an exportable business model that can generate growth across international markets.
The hospitality platform is expected to enter a major expansion phase this year. DoubleDragon said 2,229 additional hotel rooms are scheduled to become operational in 2026, including 680 rooms in Madrid, Spain; 519 rooms in Davao; 548 rooms in Cebu; and 482 rooms in Niseko, Hokkaido, Japan.
Meanwhile, the 518-room Hotel101-Manila and the 606-room Hotel101-Fort continue to record high occupancy levels.
The company expects 2026 to mark the beginning of stronger recurring revenue generation from its provincial community malls, industrial leasing assets, office portfolio and hospitality developments in both domestic and overseas markets.
DoubleDragon also sees the international growth of Hotel101 as a potential contributor to future U.S. dollar inflows into the Philippine economy.
The company said it believes Philippine firms can create greater long-term value by developing original business concepts locally and expanding them globally, rather than relying solely on imported brands or adapted foreign models.
DoubleDragon added that its management team remains focused on executing its long-term strategy despite operating alongside larger and more established industry players. Since its listing on the Philippine Stock Exchange in 2014 at P2 per share, the company said its stock price had reached P10.18 per share as of May 31, 2026, equivalent to roughly five times its initial public offering price.
The article was originally published in PhilStar Proeperty
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