Mere months after it opened its doors, the Viceroy the Palm has had its ownership changed, and is being rebranded.
The luxury resort, which only opened in April, has been claimed by FIVE Holdings and will be renamed to FIVE Palm Jumeriah Dubai.
It’s expected that the relaunch of the property will happen in October this year.
FIVE Holdings owns the property the resort is located on and reportedly was responsible for the construction of the hotel.
The CEO of FIVE Hospitality released a statement
“We believe now is the right time to disrupt the hospitality industry. The people who actually provide a hospitality experience never receive the real benefits while most of the commercial benefits are taken in most cases by operators. This needs to change. There needs to be a much more equitable distribution and we will be introducing this in our hospitality vertical immediately to ensure our philosophy is executed from the heart.”
Aloki Batra, CEO of FIVE Hospitality LLC