DoubleDragon’s Hotel101 brand is entering Cambodia with two major projects in Phnom Penh and Sihanoukville, in a move advised by regional law firm DFDL. The deal underscores rising investor interest in Cambodia’s hospitality sector as international arrivals continue to recover post COVID.
The Philippine-listed developer disclosed to the Philippine Stock Exchange that it has signed definitive binding agreements with Canopy Sands Development Corporation Ltd. to construct the two properties. Hotel101–Phnom Penh will be located in the capital’s Tonlé Bassac district, offering around 700 rooms and becoming the country’s largest hotel by room number. Hotel101–Sihanoukville will rise in the Bay of Lights coastal development with approximately 680 rooms.
Combined, the projects are expected to generate PHP 6.3 billion (about $110 million) in sales, with completion targeted for 2028.
Cambodia’s Hotel Industry Draws Growing Interest
Cambodia’s hospitality sector has seen a resurgence alongside a rebound in tourism. The Ministry of Tourism reported 5.4 million international arrivals in 2023, up 139% year-on-year. Phnom Penh and Sihanoukville are among the country’s most active hotel development markets, attracting both luxury and mid-scale operators.
Read More: Bay of Lights: A Bold Step Forward in Cambodia’s Coastal Transformation
Industry observers highlight that demand is diversifying, with mid-market offerings becoming increasingly attractive for regional travelers and investors. The Hotel101 model, which blends hospitality with investment opportunities, represents a unique proposition in this context.
“The investment by Hotel101 is not a generic real estate or a hospitality investment; it is an investment opportunity with foreseeable returns for the buyers,” said Nishant Choudhary, Partner at DFDL, who led the advisory team on the transaction. “Hotel101, a Nasdaq-listed company, has a global niche in such a model. Thus, I would say this is the first of its kind in Cambodia, presenting a great growth story for the country, and we are happy to be part of this journey.”
Guillaume Massin, Partner at DFDL Cambodia, said: “The Hotel101 projects in Cambodia are truly unprecedented—not only in terms of their scale, but also in the innovative development features they bring to the market. This initiative marks a significant milestone for the hospitality and real estate sectors in the country, setting new benchmarks for integrated design, operational efficiency, and investment accessibility.”
The team also highlighted the strategic importance of the projects, noting that the initiative reinforces Cambodia’s position as an emerging investment destination in Southeast Asia while providing international investors with new pathways into the market. DFDL acted as the legal advisor, with Choudhary and Massin leading the deal alongside the firm’s broader team supporting the transaction.
Global Expansion Strategy
The Cambodia projects mark Hotel101’s sixth international market entry, following developments in Japan, the United States, Spain, and Saudi Arabia. Parent company DoubleDragon, founded by Mang Inasal creator Edgar “Injap” Sia II, has positioned the condotel brand as an “asset-light, exportable” business model that generates recurring foreign currency inflows.
“DoubleDragon happens to be one of the very few companies that has not only positioned its diversified portfolio of hard assets spread across the Philippines, but it also happens to be one of the very few companies that has organically developed a novel asset-light concept and highly unique business model in Hotel101 that is exportable to other continents globally,” the company noted.
Once completed, Hotel101–Phnom Penh and Hotel101–Sihanoukville are expected to add significant room capacity to Cambodia’s growing tourism infrastructure while providing investors with a new entry point into the sector.
