Indian Visionaries 2025: Kabir Mulchandani, Founder and Executive Chairman, FIVE Holdings Mulchandani has achieved groundbreaking milestones in sustainable hospitality as evidenced by FIVE Holdings' pioneering ESG achievements.
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This article is part of Entrepreneur Middle East's special edition: 33 Indian Visionaries.
Kabir Mulchandani is the founder and Executive Chairman of FIVE Holdings. With assets exceeding USD$2.9 billion, over 1,700 keys, a workforce of over 3,000, Mulchandani's leadership has propelled the expansion of FIVE Holdings to include flagship properties FIVE Palm Jumeirah, FIVE Jumeirah Village, and FIVE LUXE in Dubai, FIVE Zurich in Switzerland, and acquired Ibiza landmarks—Destino Five Ibiza, El Hotel Pacha, and the iconic Pacha Ibiza nightclub—through the landmark €302.5 million acquisition of The Pacha Group in October 2023, aligning with Mulchandani's vision of building a universal ecosystem of luxury, entertainment, and sustainability. The Group also encompasses FIVE MODE and The Pacha Collection Fashion Lines, Fly FIVE and FIVE Music, the Group's record label.
FIVE Holdings' financial trajectory under his stewardship led to an impressive AED 1,531 million in revenue for the nine months ended September 2024 and an EBITDA of AED 525 million, reflecting robust growth and consistent performance. His strategic decision-making extends to the financial markets, demonstrated by the successful launch of a $350 million Green Bond on Nasdaq Dubai in October 2023, underscoring his commitment to sustainable innovation while achieving significant financial milestones. A champion of green innovation, Mulchandani has achieved groundbreaking milestones in sustainable hospitality as evidenced by FIVE Holdings' pioneering ESG achievements. Both, Dubai Hotels operate on 100% solar power, hold 100% LEED Platinum certifications in Dubai and Zurich, the highest standard in green building, and earned the world's only and highest 'A' ESG Rating through ISS. Addressing Ibiza's water scarcity, Destino Five Ibiza has implemented conservation measures, reducing usage by 24.3% during the summer of 2024, as a start of its Net Zero Water initiative underway.
A significant achievement in energy was a 100% green power contract, which The Pacha Group secured in 2024. The Resort, Pacha Ibiza Nightclub, and El Hotel Pacha are also registered with the US Green Building Council and are undergoing renovations to meet green building standards of LEED Gold or Higher. Mulchandani has built a people- first culture right across FIVE Holdings. Acknowledged as a Great Place to Work, in 2024 FIVE Hotels and Resorts ranked #12 for Best Workplaces for Hospitality in GCC, #13 in the Best Workplaces for Millennials 'Large Category', #8 in the Best Workplaces 'Large Category in the UAE' and #16 in the Best Workplaces 'Large Category in the Middle East'. The company's distinction as a large-sized organization is evident, ranking #31 in the Best 'Large-Sized Companies in Asia' 2024. Additionally, FIVE Hotels and Resorts stood #6 for the Happiest Employees in the Region (ahead of Coca Cola and Deloitte).
