Latest news with #PachaGroup
Arabian Business
4 days ago
- Business
- Arabian Business
Dubai's FIVE Holdings mulls IPO and listing in London or New York: Report
FIVE Holdings, the Dubai-based company that owns the FIVE brand of hotels, is said to be considering listing in London or New York, according to a Reuters report. Founder and Chairman Kabir Mulchandani, who has targeted a 2025 IPO for the past couple of years, had previously spoken of a primary listing in Dubai and a secondary listing in one of the international markets. The Reuters report cites three people with knowledge of the matter. Five Holdings IPO FIVE Holdings did not respond to Reuters' request for comments, but the agency said that London could be a strong candidate, given a majority of clients at FIVE's Ibiza clubs are British nationals and that business generates significant revenues for the group. In November 2023, FIVE Holdings acquired a 100 per cent equity interest in the Pacha Group, in a deal valued at €302.5m ($345m). That same year, Muchandani spoke about the IPO for the first time and said: 'The plan right now is 2025. For us, we are very well capitalised now, the goal is to continue to improve our transparency and our governance, to do the investor calls on a quarterly basis and to act like a public company, before we become a become a public company, and not to raise money and then figure out what to do. 'There are always a lot of advisors saying, look at Dubai, but also look at another international market. I think that may not be the correct advice to take it forward. 'The way the Dubai capital markets is developing over the last few years, it is entirely possible. At the end of the day, even though we are global, we are a made-in-Dubai company. So, for us, being part of Dubai capital markets is a critical part of our story.' Mulchandani also said that the IPO was very important for FIVE Holdings because of the employee stock options programme that it was rolling out. 'One of the major reasons why we would like to do this is because we are launching a very, very important employee stock option program,' said Mulchandani. 'A significant portion of the company is going to be dedicated to the employees over time. And this is not just the C-suite, not the CEOs and the senior people. This is down to the person who is going to bring your bags up to your rooms. 'It's a very widely distributed stock. The goal is to make sure that they have the liquidity and see what the value of the work and the effort they're putting in.' The company and its advisers are planning to start the listing process by the end of the year, two of the people in know told Reuters. The three people spoke on condition of anonymity because they were not authorised to speak publicly.
Travel Daily News
30-05-2025
- Business
- Travel Daily News
Destino Five Ibiza Hotel debuts five-star transformation
Destino Five Ibiza reopens June 2025 as a five-star luxury icon, blending Bohemian spirit, world-class entertainment, and sustainable, conscious hospitality. IBIZA – Destino Five Ibiza, a jewel of The Pacha Group's legendary hospitality empire, announces its elevation to prestigious Five-Star status following a transformative winter renovation. Reopening its doors on 1 June 2025, the iconic hotel emerges reborn, redefining luxury, sophistication, and unforgettable experiences along Ibiza's breathtaking coastline. The hotel is a shimmering hotspot where Ibiza's untamed, free-spirited soul collides with irreverent hedonism in a heady blend of effortless Bohemian vibes and high-gloss opulence, conjured by The Pacha Group's storied, shape-shifting legacy. Destino Five Ibiza's extensive transformation encompasses a complete redesign of its 159 rooms and suites, each meticulously crafted with refined contemporary aesthetics. Long admired for their expansive private terraces and XL pools, the iconic Cherry Vista and Cherry Suites continue to offer panoramic views of Ibiza's sparkling shores and lush landscapes, a signature blend of luxury and island charm that remains timeless. Enhancing the experience even further, Destino Five Ibiza now features a fire pit for starlit evenings, a fantastic outdoor gym, and an iconic open-air stage that will host blockbuster performances under the open sky. Destino Five Ibiza's culinary scene is as vibrant as the island itself, with standout destinations designed to delight the senses. Set on a breezy finca-style terrace, Cielo serves vibrant flavours from breakfast through lunch, with live music to enhance the mood. Mornings begin with a lavish breakfast spread, featuring live cooking stations and Mediterranean favourites, while lunches offer light, flavourful salads, grilled seafood, artisanal flatbreads, and shareable plates that include the signature paella. Elia, the Greek dining experience on a gorgeous terrace by the sea, unfolds with sweeping views and front-row seats to Ibiza's most iconic sunsets. From the freshest catch of the day to expertly grilled meats and vibrant small plates, each dish is a celebration of Mediterranean culinary tradition, elevated by a curated selection of fine wines, signature cocktails and sultry soundtracks. Playa Pacha at Destino Five Ibiza is a decadent, poolside playground complete with loungers, signature cocktails, and Mediterranean bites. Embracing a family-friendly spirit by day, the resort invites sunseekers of every age, with guests of the Pacha Hotel also welcome to enjoy themselves and make a splash. Entertainment, a cornerstone of Destino Five Ibiza, is elevated with a spectacular open-air stage hosting some of the world's most celebrated artists. Guests booking their stays directly with the hotel also receive complimentary access to all Pacha ICONS events at Destino Five Ibiza as well as all events at Pacha Ibiza, the island's legendary nightclub, home to electrifying events including residencies with Sonny Fodera, CamelPhat, Blond:ish, Mau P, Defected, Marco Carola, Robin Schulz, Flower Power with Bora Uzer and Solomun. And while the sonic experience stays true to its electric spirit, new and elevated adult-only VIP spaces promise an even more exclusive vantage point for Ibiza's most talked-about destination. Pacha ICONS officially begins on Thursday, 19 June 2025 with a thunderous grand opening, headlined by techno master Marco Carola and Grammy-nominated house alchemist CamelPhat returning to command the decks. Carola's Music On residency also returns to the venue in full force as an unmissable ritual of rhythm and connection on; June 26, July 3, July 10, July 17, July 24, July 31, August 7, August 14, August 21, August 28 and Solomun closes out Pacha ICONS on September 25. Guests of Destino Five Ibiza receive complimentary access to all Pacha ICONS events, ensuring an exclusive front-row experience to the island's most iconic music nights. Beyond its gorgeous suites, world-class music, and hypnotic vistas, Destino Five Ibiza continues to lead as a beacon of conscious luxury. The hotel now runs on 100% Green Power, conserves millions of litres of water through state-of-the-art recycling and reduction measures, and has achieved a 46% reduction in carbon footprint. Upholding a commitment to local suppliers, Destino Five Ibiza enables The Pacha Group's sourcing of fresh produce from the island through Ibiza's 0 KM program. In step with The Pacha Group's commitment to sustainability, Destino Five Ibiza is proudly registered with the US Green Building Council, targeting LEED Gold or Higher certification – proof that this reborn icon thoughtfully impacts the island of Ibiza with an eye to the future. Booking a stay at Destino Five Ibiza grants complimentary access to Pacha Ibiza, subject to availability and venue capacity. Access is restricted to guests aged 18 and over. To enhance your experience, we recommend arriving before 1AM. Complimentary access does not include VIP entry, reserved seating, or additional benefits. Terms and conditions are subject to change without prior notice. Reservations at Destino Five Ibiza now offer exclusive flexibility with 'Book Now, Pay Later' options, complemented by personalised enhancements including private airport transfers, champagne on arrival, and bespoke wellness experiences.
