FIVE Holdings to remain in control of Viceroy Palm Jumeirah
Dubai-based real estate and hospitality group FIVE Holdings has just issued a statement to say that it will remain in control of the Palm Jumeirah Dubai property, previously operated by Viceroy.
The statement says that proceedings with the property’s former owner “have been suspended by force of law.”
“We will take all steps to ensure the interests of the hotel’s employees, guests, investors and stakeholders remain protected and are never compromised. This to us is our single most important guiding principle,” said Kabir Mulchandani, chairman and CEO, FIVE Holdings.
There is currently a legal battle between FIVE Holdings and Viceroy. This came to light on Monday June 19, when FIVE Holdings announced that they had taken control of the Palm Jumeirah hotel operated by Viceroy, and launched its own hospitality brand, FIVE Hotels & Resorts.
Shortly after this, Viceroy approached DIFC Courts for an injunction prohibiting FIVE Holdings from stopping Viceroy to continue operating the hotel.
Last week chief executive officer of the Viceroy Hotel Group, Bill Walshe, has stated that: “The Court’s order requires, among other things, Viceroy’s name, signage and branding to be reinstated at the hotel. Our priority remains to work with our outstanding hotel colleagues to ensure continuity of service and consistent delivery of a guest experience in keeping with the Viceroy ideology. We will continue to work strenuously with our legal team to ensure we achieve this.”
Judging by totady’s development, it seems that the legal impediments stopping FIVE Holdings from operating the hotel have been removed.