Recent developments include the opening of Hotel101-Madrid, strong booking performance at this property, progress on capital raising through a proposed USD 300 million preferred share offering, and signing of definitive agreements for new hotel developments in Melbourne and Milan.

• Hotel101-Madrid, a 680-room hotel, officially opened to the public on March 10, 2026, marking a key operational milestone for Hotel101 Global [N4][N5].
• Hotel101 Global announced strong booking performance at Hotel101-Madrid, indicating positive market reception [N1][N2].
• The company took the next step in its proposed US$300 million Series A perpetual preferred share offering in March 2026 to support growth initiatives [N3].
• Definitive binding agreements were signed for the development of Hotel101 in Melbourne, Victoria, Australia, expanding the company's international footprint [N7][N8].

Hotel101 Global's standardized 'one room' concept and asset-light model enable efficient scaling and consistent guest experiences across international markets. The opening of Hotel101-Madrid and ongoing construction of Hotel101-Niseko demonstrate operational progress and market acceptance. Definitive agreements for Milan and Melbourne developments expand the company's footprint in key global cities. The proprietary Hotel101 App offers potential to streamline operations and enhance customer loyalty. The company's focus on sustainability, as evidenced by CASBEE certification for Hotel101-Niseko, aligns with growing environmental expectations. Capital raising initiatives, including a proposed USD 300 million convertible preferred share offering, support growth and development activities.

Hotel101 Global faces risks related to the successful completion and regulatory approval of planned hotel developments, including Milan and Melbourne. The reliance on third-party Unit Owners and long-term management agreements may expose the company to challenges in maintaining consistent operational standards and revenue streams. The asset-light model depends on effective management by subsidiaries and third-party contractors, with potential operational risks. Market competition in the mid-level hospitality segment from established hotel chains and alternative accommodations could pressure pricing and occupancy. The company's dependence on third-party contractors for app development and hotel services introduces operational risks. Economic or geopolitical factors affecting travel and tourism could impact demand for Hotel101 hotels.

Hotel101 Global's moat derives from its unique asset-light business model combining pre-sale of standardized hotel units to third-party owners with centralized professional hotel management through wholly-owned subsidiaries. This model allows the company to scale operations without owning underlying real estate, reducing capital intensity and enabling rapid expansion. The long-term management agreements with Unit Owners create stable recurring revenue streams and align incentives. The proprietary Hotel101 App enhances operational efficiency and guest experience, supporting brand consistency across diverse geographies. The company's global expansion into multiple countries with standardized offerings and strategic partnerships, such as with Formula 1 hospitality, further strengthens its competitive position in the mid-level hospitality segment.

• Development and Regulatory Risks: Completion of hotel projects such as Hotel101-Milan and Hotel101-Melbourne is subject to regulatory approvals and satisfaction of conditions precedent, which may delay or prevent development.
• Operational Risks: Hotel operations rely on wholly-owned subsidiaries and third-party contractors; failure to maintain service quality or operational efficiency could affect brand reputation and revenues.
• Market Competition: The mid-level hospitality market is competitive with established hotel chains and alternative accommodations, which may impact pricing power and occupancy rates.
• Dependence on Unit Owners: The business model depends on long-term management agreements with Unit Owners who purchase hotel units; changes in ownership or disputes could affect operations.
• Capital Raising and Financial Risks: The company’s growth depends on successful capital raising, including proposed convertible preferred share offerings; market conditions may affect access to capital.

• Hotel101 Global Holdings Corp. operates the Hotel101 brand, an asset-light, prop-tech hospitality business platform focused on standardized hotel rooms under a 'one room' concept.
• Hotel101 hotels are managed by wholly-owned subsidiaries of Hotel101 Global, which operate the hotels under long-term Management Agreements with Unit Owners.
• Unit Owners purchase individual hotel units and receive condominium titles or equivalent deeds, entering into Management Agreements typically lasting 25 to 50 years, renewable at the Hotel Operator's discretion.
• Hotel Operators retain exclusive control over hotel operations including marketing, reservations, maintenance, staffing, guest services, and improvements.
• Hotel Operators receive 70% of monthly Net Sales (gross room revenue minus applicable taxes and charges) covering all operating expenses and management compensation; Unit Owners collectively receive 30% of monthly Net Sales distributed equally among units.
• Hotel101 Global has developed and opened Hotel101-Madrid, a 680-room hotel in Spain, which commenced operations on March 10, 2026.
• Hotel101-Niseko in Hokkaido, Japan, with 482 rooms, is under construction with 48.69% completion as of December 31, 2025, and conducted its topping off ceremony on December 5, 2025.
• Hotel101-Niseko is designed with sustainability in mind, having received CASBEE certification for environmental performance and eco-efficient operations.
• Hotel101-Los Angeles is in planning and development, with a 427-room hotel planned on land acquired in Westlake North District, Los Angeles.
• Hotel101-Milan and Hotel101-Melbourne are sites with definitive binding agreements signed for development, with 429 and 766 rooms respectively, subject to regulatory approvals.
• Hotel101 Global uses a proprietary Hotel101 App available on iOS and Android to facilitate reservations, guest services, feedback, promotions, and loyalty programs, aiming to integrate operations and enhance guest experience.
• Hotel101 Global announced a proposed offering of convertible preferred shares to raise up to USD 300 million.
• Hotel101-Madrid has partnerships including a 10-year agreement as an Official Hotel partner for the Formula 1 Spanish Grand Prix.
• Hotel101 Global's marketing strategy includes social media engagement, cooperation with OTAs, direct booking channels, and celebrity endorsements targeting Filipino travelers among others.
• Hotel101 Global had 60 full-time employees as of December 31, 2025, distributed across multiple countries including Singapore, Spain, Japan, and the Philippines.
• Hotel101 Global owns and leases various office spaces in Singapore, Philippines, Spain, and other locations for marketing and corporate functions.
• Hotel101 Global's business model combines pre-selling hotel units to third-party owners with hotel operations managed by its subsidiaries, generating revenue from both real estate sales and hotel operations.
• Hotel101 Global aims to expand its Hotel101 brand globally, targeting 100 countries long term and 25 priority countries medium term, to become a top global hotel brand.