Hotel101 Global announces $2.5B, 10,000-room Saudi expansion with Horizon Group

JVSPAC Acquisition Corp.

Hotel101 Global (DoubleDragon/JVSPAC merger target) announces JV with Horizon Group to build 10,000 rooms worth $2.5B in Saudi Arabia.
First hotel in Medina, followed by Riyadh, Jeddah, Abha, Alula; average 500 rooms per site.
Hotel101 CEO Hannah Yulo-Luccini cites tourism boom; Saudi Arabia registered 27M intl. tourists in 2023.
Expansion ahead of planned Nasdaq listing via merger with JVSPAC (still pending, expected H1 2025).
Hotel101 currently has over 1,100 operating rooms in Philippines, plus sites under construction in Japan, Spain, and US.

item 7.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.