Skift Take
One of Dubai's top hotel holding companies suddenly posts two and a half years of financial data on its website. Either FIVE is feeling very proud of itself, or it's planning to go public soon.
The holding company of one of UAE’s best-known local hotel groups, FIVE Holdings, publicly shared its financial results recently – notable because large companies rarely release financial information unless they trade publicly.
FIVE Holdings declined to comment when asked by Skift whether it was considering an IPO.
FIVE shared the results on its website, and here are some of the key numbers:
Profit: 186 million dirhams in the first half of 2023 (approximately $51 million), up 43% compared to the first half of 2022. Revenue: Up 33% to 808 million dirhams ($220 mill