Dubai: Let’s not get too distracted by the COVID-19…
The Dubai hospitality company, Five, which owns and manages properties on the Palm and Jumeirah Village, confirmed it will take on another – in Zurich.
Once home to Freddie Mercury, Grace Jones, Mohammed Ali and Rihanna, the former Atlantis hotel is one of Zurich’s most prestigious. It set to open in summer 2021.
“It is a matter of pride to infuse the entrepreneurial spirit of Dubai’s hospitality scene with Switzerland’s longstanding tradition in luxury hospitality,” said Kabir Mulchandani, Chairman of Dubai based Five Holdings.
The company had been exploring the “right asset” to roll out its lifestyle concept in Switzerland for over a year. “It is with firm belief in Dubai, which provides the foundation for the creation of global hospitality champions, that we are determined to expand into Europe and beyond,” Mulchandani added.
Five’s two hotels in Dubai had come to market at a time when many had been expressing concerns about over capacity in the sector. Also, there was a fire before one of the projects opened, and that been a setback.
But the two properties have proved popular with international visitors and the holiday crowd. Average occupancy had risen to 87 per cent, according to the operator.