FIVE Holdings secures $460 million credit facility for US, Asian markets expansion

Dubai: Hospitality giant FIVE Holdings, which has a sizeable presence in Dubai, has secured a $460 million credit facility from major banks to fuel its aggressive global expansion plans, while simultaneously paying off its $350 million green bond three years ahead of schedule.

The revolving credit facility, arranged with Commercial Bank of Dubai, AAIB, and Santander, will leave FIVE with over $300 million in available cash after the early bond repayment, positioning the company to invest $500 million over the next two years across new markets.

"The support of leading global banks for this facility unwaveringly affirms their trust in FIVE Holdings' vision and financial resilience," said Kabir Mulchandani, Chairman and CEO of FIVE Holdings.

The company plans to strengthen its presence in Ibiza while expanding into the United States and Asia markets, building on strong financial momentum. Revenue jumped 28 per cent from $462 million in 2023 to $589 million in 2024, while EBITDA grew 17 per cent to $208 million.

Dubai operations

FIVE's Dubai operations continue driving growth, with hotel revenues reaching $177 million in the first half of 2025, up 24 per cent year-on-year. The Dubai hotels achieved 85 per cent occupancy with revenue per available room of $310.

The company's acquisition of Ibiza's iconic Pacha Group in 2023 for €302.5 million is paying dividends. Pacha generated €43.2 million in revenue in the first half of 2025, up 14 per cent from the previous year, with EBITDA surging 26 per cent to €13.1 million.

Pacha Nightclub hosted 64 events in the second quarter, welcoming 222,018 guests – a 25 per cent increase year-on-year. The flagship Pacha Hotel achieved 87 per cent occupancy with revenue per room up 76 per cent.

FIVE's success stems from anticipating the shift toward experiential hospitality, where travelers seek immersive entertainment rather than just accommodation. The company developed its signature 'Vibe at FIVE' concept in 2018, combining dining, nightlife, and live events.

"This isn't just a trend; it's the future of global tourism," Mulchandani added. "Our positioning today is no accident — it is the result of a bold, forward-thinking strategy, conceptualised and executed since 2018."

FIVE Holdings' diversified portfolio spans hotels, real estate, nightlife venues, and fashion, with assets valued at over Dh12 billion across Dubai, Switzerland, and Spain.