Can you tell us about your path to becoming a successful entrepreneur so far?
Between 2004 and 2008, I traded $8 billion in real estate, but by June 2008 my focus was on developing a long-term, sustainable business. I first searched for his land in Five Palm Jumeirah on Thursday night in 2012 and had the deal closed by Sunday morning. Born three years later, it became a famous spot in 2019, following Five Jumeirah Village. As a leader in hospitality, we put our entertainment offerings at the forefront – layering chart-topping live performances, award-winning culinary offerings and luxurious accommodations. As an entrepreneur, I am also keenly aware of my social responsibility and have partnered with various organizations such as Diya Foundation, Sri Gangaram Hospital, New Face Charitable Trust and many others who are deeply involved in life-saving causes.
Dubai’s hospitality market is poised for growth into the future.Elaborate What about regional industrial development and market size?
The impeccable leadership of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, has contributed to the growth of the tourism and travel sector at local, regional and international levels. Continuously working with our partners to promote , Dubai has achieved an enviable position as a bridge between East and West and has created multiple growth opportunities for the hospitality industry.
The city continues to be a coveted center for business, tourism and investment. There is now a strong desire to travel and indulge in “revenge tourism”. As a result, people are keen on staycations, vacations and workations. This has boosted tourism in the UAE. In addition, the Ministry of Tourism and Commerce announced the “Meet in Dubai” campaign as a strategy to attract 21 million to 3 million visitors by 2023 and 25 million visitors by 2025. has been introduced. Rank No. Hotel occupancy will reach 82% in Q1 2022, and demand is expected to increase once the 2022 FIFA World Cup Qatar is hosted.
What has been your approach to scaling your business so far, and what do you think are the new parameters that will determine the success and efficiency of your business?
The Five Experiences centers around breathtaking locations, luxurious accommodations, gourmet dining experiences, and all-day (and evening) entertainment. Culture is one of synergy, creativity and long-term strategic forward thinking. I believe in keeping promises and promises to all stakeholders.So guests (ranked 9/10 for both properties in Dubai booking.com), real estate investors (5-put scheme investors will enjoy a 12.2% return on investment in 2021), employees (ranked 4th best place to work for women in GCC by GPTW), supply chain partners ( Excellent relationships with over 2000 suppliers) ), financial institutions (timely interest repayment even during Covid-19) and shareholders (77x return in 10 years).
Could you share some insight into FIVE’s performance, growth and milestones over the past few years and discuss your plans for the future?
Significantly increased EBITDA from 36% in 2020 to 46% in 2021. The reason behind his social media success is his digital marketing strategy, earning him a 3.7/4 on Google’s Digital Maturity Score. This is double the hospitality and travel industry average of 1.7. Direct bookings through our website increased from 25% in 2019 to 60% in 2021. Five Palm Jumeirah ranked first with 246% higher TREVPAR and 31% higher occupancy, while Five Jumeirah Village ranked first with 286% higher occupancy. TREVPAR and 2021 occupancy increased by 42%. Since its inception, it has served more than 3.79 million of his guests of 192 nationalities at F&B venues such as The Penthouse, Maiden Shanghai, Cinque and Soul St. International DJ.
You recently announced the acceptance of crypto payments on FIVE Zurich. Acceptance of cryptocurrencies as a payment method is slowly becoming mainstream. please tell me in detail.
On the eve of its international expansion, Five Zurich will open on June 30th, accepting crypto payments such as Bitcoin and Ethereum, in line with Five’s digitally savvy philosophy. With 87 luxurious suites and rooms, seven cuisines and nightspots and a one-of-a-kind outdoor social pool, the hotel is the opening of Europe’s most anticipated luxury lifestyle and Dubai attraction. and traditionally perfect Swiss hospitality. FIVE Zurich is perfectly positioned in Europe as Switzerland is the preferred destination for crypto-blockchain.
https://gulfbusiness.com/the-five-by-five-rule-interview-with-kabir-mulchandani/ The 5v5 Rule: Interview with Kabir Mulchandani