Dubai — Dubai hospitality giant FIVE Holdings has obtained a $460 million credit facility from Commercial Bank of Dubai, AAIB, and Santander to drive US and Asian expansion. The firm also prepaid its $350 million green bond three years ahead of schedule, leaving more than $300 million of available cash to invest on new projects.
FIVE will spend $500 million over the next two years, increasing its presence in Ibiza and other markets internationally. Group revenues rose 28% to $589 million in 2024, and EBITDA grew 17% to $208 million.
Dubai continues to act as a growth driver, with hotel revenues 24% higher in H1 2025 to $177 million, recording 85% occupancy and $310 revenue per available room. Its acquisition of Ibiza's Pacha Group in 2023 is yielding further rewards, with revenues 14% higher and nightclub visits 25% higher.
Chairman and CEO Kabir Mulchandani said the facility reflects “global banks’ trust in FIVE Holdings’ vision and resilience.” The group’s ‘Vibe at FIVE’ concept, blending hospitality with entertainment, remains central to its global strategy.
