FIVE Hotels and Resorts third experiential luxury lifestyle destination in Dubai is set to open in 2023.
The former under construction Corinthia in Dubai has been acquired by FIVE Holdings, the innovative conglomerate behind lifestyle destinations FIVE Palm Jumeirah and FIVE Jumeirah Village and will be reflagged as FIVE Beach.
Opening in 2023, the beachfront property will feature 227 suites, 102 serviced residences, seven culinary and nightlife venues, a ReFIVE Spa, a social pool and a swathe of private beach. The entire property also boasts uninterrupted sweeping sea views overlooking the Ain Dubai and offering a premium vantage point for watching the sunset over the waters of the Arabian Gulf.
“Due to our visionary leader, His Highness Sheikh Mohammed Bin Rashid Al Maktoum and other salient stakeholders such as DTCM and Emirates Airlines, Dubai is the top destination for secure investments in the hospitality sector globally.
Our city was the quickest in the world to open its economy during the ongoing covid-19 crises, while maintaining the optimal balance between ensuring public health and safety and being an inviting and thriving business hub with unrestricted access as the globe’s air travel centre.
This has enabled FIVE to buck global trends and succeed in achieving an earnings growth of 196% in the 1st half of 2021 as compared to 2019. Both our hotels are running at an impressive occupancy of 88%, and we are ranked #1 on occupancy, ADR and RevPAR generating more than 214% more on ‘Total Revenue Per Available Room’ than both our respective luxury competitor sets. What makes us very proud is 60% of all room bookings come directly through our website – a true testament to the strength of the FIVE brand.
This exciting new acquisition will cater to our overwhelming demand from millennials and Gen Z as we plan to up the ante with FIVE Beach as the most exciting must visit destination in Dubai.” Said Kabir Mulchandani, Chairman, FIVE Holdings.
Opening in 2023, FIVE Beach joins FIVE Palm Jumeirah (with its 476 hotel rooms and apartments, 221 luxury residences, and 11 culinary and nightlife venues), FIVE Jumeirah Village (with its 234 hotel rooms, 267 luxury serviced apartments and five culinary and nightlife venues) in Dubai and the soon-to-open FIVE Zurich (with 149 hotel rooms and eight culinary and nightlife venues) in Switzerland.
GO: Visit www.fivehotelsandresorts.com for more information.