DoubleDragon expects $100M in Hotel101 sales over next 12 months

DoubleDragon [DD 11.92, up 2.0%; 99% avgVol] [link] disclosed that its subsidiary, Hotel101, has taken in over $10 million from unit buyers of its overseas hotel projects. This take, which DD said came “mainly” from Q2/24, exceeded DD’s expectations and the company now projects to take in over $100 million in contracted unit sales over the next 12 months. Hotel101 is building a 680-room hotel in Madrid (Hotel101-Madrid), trying to have it complete in time for the Madrid F1 Grand Prix in 2026.

MB bottom-line: Exceeding expectations sounds great, and I am interested in the Hotel101 vision, but I’m always left feeling vaguely confused by DD’s communication of what it’s doing and what it expects to get out of these projects. There are probably lots of people out there who read this and know exactly what’s going on relative to what we knew before, but I honestly have no idea. I wish I did know, and I wish DD would help walk me through their exceeded expectations a little better. Taking in $10 million sounds great, but how does this compare to what they expected to take in through H1/24 or Q2/24? Projecting to receive $100 million over the next 12 months sounds amazing but how does that compare to the amount they expected to take in over the Q3/24 through Q2/25 span? What accounts for the discrepancy between the estimate and the actual?

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