FIVE Holdings, the Dubai-based hospitality and entertainment group, has secured a $460 million revolving credit facility with Commercial Bank of Dubai, Arab African International Bank and Santander.
The company said the deal will allow it to prepay its $350 million green bond three years ahead of schedule, cutting financing costs. After repayment, it will retain more than $300 million in available cash to invest in expansion.
FIVE plans to invest $500 million over the next two years, strengthening its footprint in Dubai and Ibiza and expanding into the US and Asia. Its portfolio includes FIVE Palm Jumeirah, FIVE Jumeirah Village and FIVE LUXE in Dubai, as well as the Pacha Ibiza nightclub, Destino Five Ibiza and the Pacha Hotel in Spain.
The group reported revenue of $589 million in 2024, up 28 per cent from 2023, while EBITDA rose 17 per cent to $208 million.
In the first half of 2025, revenue increased 21 per cent year-on-year to $298 million, with EBITDA up 24 per cent to $105 million.
Dubai operations contributed $177 million in revenue in the first six months of 2025, a 24 per cent rise, with EBITDA of $73 million, up 25 per cent. The Pacha Group, acquired in 2023 for €302.5 million ($324.6m), reported revenue of €43.2 million ($46.4m) in the same period, a 14 per cent increase, and EBITDA of €13.1 million ($14.1m), up 26 per cent.
Operations in Dubai and Ibiza
In Dubai, hotels achieved 85 per cent occupancy in H1 2025, with revenue per available room at $310 and an average room rate of $363. Food and beverage revenue reached $36.4 million, up 18 per cent, while social events generated $45.3 million. A new live events stream added $10.6 million.
In Ibiza, Pacha nightclub hosted 64 events in Q2, attracting 222,018 guests, up 25 per cent from a year earlier. Destino Five Ibiza recorded an average daily rate of €533 ($573) with 84 per cent occupancy, while Pacha Hotel achieved 87 per cent occupancy and revenue per available room of €223 ($239), a 76 per cent year-on-year increase.
Kabir Mulchandani, chairman and chief executive of FIVE Holdings, said the financing reflected the confidence of lenders in the company’s strategy.
“At FIVE, we identified early on the power of experiential hospitality – where gastronomy and entertainment converge,” he said. “This isn’t just a trend; it’s the future of global tourism.”
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