FIVE Holdings secures $460m revolving credit
FIVE Holdings, owner of The Pacha Group and FIVE Hotels and Resorts, will invest $500 million over the next two years to expand its global portfolio and strengthen its presence in Dubai and Ibiza. The group also secured a $460 million revolving credit facility with Commercial Bank of Dubai, Arab African International Bank, and Santander to support this ambitious growth.
The investment will fuel expansion into the United States, Asia, and across the UAE, advancing FIVE’s vision of merging electronic music, gastronomy, and luxury hospitality into immersive lifestyle experiences.
$6B merger: Direct Travel acquires ATPI
Direct Travel, Inc. has acquired its long-time strategic partner ATPI, creating one of the world’s largest travel management companies with more than $6 billion in annual travel volume and a truly global reach. The merger strengthens their footprint across corporate, leisure, events, and specialised travel sectors, uniting Direct Travel’s advanced platforms with ATPI’s deep operational expertise.
The acquisition builds on their multi-year collaboration serving global corporate clients and will accelerate the rollout of Avenir Travel Edition, Direct Travel’s next-generation travel management platform. Christal Bemont, CEO of Direct Travel, said the partnership will redefine managed travel with tailored, scalable solutions and advanced technologies.
ATPI, led by CEO Ian Sinderson, brings strong expertise across industries such as energy, marine, sports, and mining, positioning the combined company as a powerful alternative to mega travel agencies worldwide.
FHS World spotlights the Philippines
The Future Hospitality Summit (FHS) World spotlighted the Philippines with a dedicated pavilion at Madinat Jumeirah, Dubai (October 27 to 29), showcasing the country’s rapidly growing hospitality and tourism sector. Philippine tourism recorded a strong rebound, with arrivals rising from 164,000 in 2021 to nearly 6 million in 2024, and 3.9 million visitors between January and August 2025.
The country aims for 10 million visitors and 120,000 new hotel rooms by 2028, contributing $106 billion (21 per cent of GDP) to the economy in 2025. The pavilion featured investment opportunities, upcoming projects, and incentives from the Tourism Infrastructure Enterprise Zone Authority, while promoting the Philippines’ 7,641 islands, rich culture, and renowned hospitality. The event underscored the nation’s growing global appeal and its emergence as one of Asia’s most dynamic tourism markets.
Abu Dhabi GP sets new record
Ethara, organiser of the Formula 1 Etihad Airways Abu Dhabi Grand Prix, confirmed last year as its biggest year yet, generating Dh1.25 billion in visitor spend — a 6.8 per cent increase over the previous record — from 192,000 attendees, 70 per cent of whom were international visitors.
The 2024 event also drew 62 million TV viewers and achieved a 4.6 billion social media reach, reinforcing Abu Dhabi’s status as a global sports and entertainment hub.
The 2025 edition, set for December 4 to 7, is already nearing sellout and will align with Abu Dhabi’s Tourism 2030 vision, driving tourism, community engagement, and economic growth. The Yasalam concerts attracted 110,000 attendees, while ticket benefits expanded to include teamLab Phenomena, further enhancing Yas Island’s world-class entertainment experience and the Grand Prix’s growing international impact.