Viceroy Palm Jumeirah taken over by FIVE Holdings
Three months after opening, Viceroy Hotels and Resorts will no longer operate its Palm Jumeirah property, Arabian Business reports. The hotel, that opened on March 31, 2017, has been taken over by Kabir Mulchandani’s FIVE Holdings.
Aloki Batra, CEO of FIVE Hospitality LLC, said in a statement: “We believe now is the right time to disrupt the hospitality industry. The people who actually provide a hospitality experience never receive the real benefits while most of the commercial benefits are taken in most cases by operators. This needs to change. There needs to be a much more equitable distribution and we will be introducing this in our hospitality vertical immediately to ensure our philosophy is executed from the heart.”
This announcement comes with news that FIVE Holdings (previously known as SKAI Holdings) will launch a new hospitality brand, FIVE Hotels & Resorts, which will operate under FIVE Hospitality LLC.
“We are pleased to announce the launch of our new hospitality brand, which will operate four hotels and residences in Dubai by 2020. The total value of these projects will be AED7.2bn ($2bn),” said Kabir Mulchandani, Chairman and CEO, FIVE Holdings.
Viceroy Palm Jumeirah opened in March of this year with three swimming pools (including a 60 metre infinity pool) and 477 guest rooms spread across 16 floors. Restaurants include BLD On One, Maiden Shanghai and Quattro Passi. There is also a spa with 14 treatment rooms, a gym, and beach.