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SINGAPORE - Hotel101 Global Pte. Ltd., a subsidiary of NASDAQ:HBNB (market cap: $472.37M), has signed definitive agreements with Canopy Sands Development to build two large-scale hotel properties in Cambodia, according to a press release statement. According to InvestingPro data, the company currently shows a weak financial health score of 1.25, with short-term obligations exceeding liquid assets.
The planned developments include Hotel101-Phnom Penh, a 30-floor property with approximately 700 rooms on a 2,033-square-meter commercial plot in the Tonle Bassac district, and Hotel101-Sihanoukville with about 680 rooms on 4,623 square meters of land within the Bay of Lights coastal development.
Both properties are expected to be completed by 2028 and will feature Hotel101’s standardized 21-square-meter "HappyRoom" units with kitchenettes, swimming pools, fitness facilities, dining options, and commercial spaces.
The projects are anticipated to generate $109.55 million in sales revenue once fully sold, the company stated. Cambodia reported 6.7 million international visitors in 2024, with tourism expected to grow following the opening of Techo International Airport on September 9, 2025.
Hannah Yulo-Luccini, Hotel101 Global CEO, and Jimmy He, Canopy Sands Development Managing Director, participated in the agreement signing today at Hotel101’s Singapore office.
The Cambodia expansion marks Hotel101’s entry into its sixth country after the Philippines, Japan, Spain, United States, and Saudi Arabia. The company reports it is working toward a long-term goal of operating 1 million hotel rooms across 100 countries globally. With a current ratio of 0.12 and negative free cash flow, investors can access detailed financial analysis and real-time updates through an InvestingPro subscription.
Canopy Sands Development, described as one of Cambodia’s leading real estate developers, will provide Hotel101 with access to prime land and local sales networks to support the projects.
In other recent news, JVSPAC Acquisition Corp. has completed its merger with Hotel101 Global Holdings Corp., as announced on June 30, 2025. This merger has resulted in both JVSPAC and Hotel101 Global becoming wholly owned subsidiaries of Hotel101 Global Holdings. The merger details were disclosed through a press release filed with the Securities and Exchange Commission. Following the merger, each outstanding Class A and Class B ordinary share of JVSPAC was converted into one ordinary share of Hotel101 Global Holdings. Additionally, JVSPAC entered into an assignment, assumption, and amendment agreement with its sponsor and Hotel101 Global Holdings. This agreement transferred JVSPAC’s rights and obligations under a prior registration rights agreement to Hotel101 Global Holdings. As a result of this merger, JVSPAC has delisted from Nasdaq.
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