Hotel101 Global, a global hotel chain that provides a unique and simple platform for investors in the branded affordable hotel segment, agreed to go public via a SPAC merger with JVSPAC Acquisition, a blank check company incorporated for the purpose of effecting a business combination, in a $2.3bn deal. "Hotel101's asset-light business model allows us to generate revenues twice: first from the pre-selling of strata-titled individual hotel units during the construction phase; and second, from the long-term recurring revenue derived from day-to-day hotel operations following completion of the units. Building on the success of our business model in the Philippines – where we have several operating properties and a number under development – and our ongoing international expansion to Japan, Spain, and the US, we believe that a NASDAQ listing will provide Hotel101 with access to public capital markets and help accelerate our global expansion plans," Hannah Yulo-Luccini, Hotel101 CEO.