Hotel101 Global Holdings (HBNB) investor relations material

Executive summary

• Completed major international expansion milestones, including the opening of Hotel101-Madrid and signing definitive agreements for Hotel101-Milan and Hotel101-Melbourne, with ongoing projects in Japan and the U.S.

• Business model leverages an asset-light, prop-tech platform, generating revenue from both pre-sales of hotel units and recurring hotel management fees.

• Completed a business combination and SPAC merger, resulting in listing on Nasdaq and significant changes to capital structure.

Financial highlights

• Revenue for 2025 was $75.9 million, up 1,173% from $5.9 million in 2024, driven by real estate sales from Hotel101-Madrid and Hotel101-Niseko.

• Gross margin for 2025 was $32.4 million, with a real estate development margin of 42.3%.

• Operating expenses rose 107% to $15.5 million, and stock compensation expense was $15.6 million due to Key Executive Shares issued in the business combination.

• Net loss for 2025 was $26.7 million, up from $6.5 million in 2024, mainly due to high start-up costs, stock compensation, and a $13.8 million listing fee.

• EBITDA for 2025 was $18.1 million, compared to negative EBITDA in prior years.

• Cash and cash equivalents at year-end were $14.7 million, with total assets of $152.3 million and total liabilities of $135.2 million.

Outlook and guidance

• Plans to expand to 25 countries in the medium term and 100 countries long-term, with a focus on joint ventures and franchise arrangements.

• Ongoing development of Hotel101-Niseko (Japan), Hotel101-Los Angeles (U.S.), Hotel101-Milan (Italy), and Hotel101-Melbourne (Australia), with regulatory approvals pending for some projects.

• Management expects to fund future projects through proceeds from current project sales and potential capital market fundraising.