MANILA -- Filipino business tycoons Edgar “Injap” Sia II and Tony Tan Caktiong led the topping up ceremony for the 680-room Hotel101-Madrid, the first European project under their global hospitality venture.

The event comes just 11 months after construction began, with full completion set for December 2025—timed for Madrid’s debut Formula 1 Grand Prix.

Located on a 6,593-square-meter lot along Avenida Fuerzas Armadas in Valdebebas, the hotel is poised to become one of the five largest in Madrid. DoubleDragon said it sits within walking distance of key city landmarks including the IFEMA convention center, the Real Madrid Sports Complex, and the Madrid Barajas International Airport.

Sia, founder of Mang Inasal and chairman of DoubleDragon Corp., and Tan Caktiong, founder of Jollibee Foods Corp., lead the expansion through Hotel101 Global. The company said its long-term vision is to operate one million rooms across more than 100 countries.

The company has identified 25 priority markets, including the Philippines, Spain, the US, UK, Japan, and several countries across Asia, Europe, and the Middle East.

Joining the ceremony were Hotel101 Global CEO Hannah Yulo-Luccini, Ferrovial Construcción officials, and Philippine dignitaries including Ambassador to the WTO Manuel Teehankee, Consul General Mark Francis C. Hamoy, and PITC Commercial Officer Althea Antonio.

Hotel101-Madrid is expected to play a key role in strengthening Filipino presence in the global hospitality scene, the company said.