Zurich: Change of hands for the Hotel Atlantis
The Hotel Atlantis in Zurich has a new owner: Five Hotels and Resorts, a Dubai-based luxury hotel chain, plans to open a new lifestyle hotel at the foot of the Üetliberg next year.
The former Atlantis Hotel has found a new owner: The contract between the seller Neue Hotel Atlantis AG and the buyer 5 Atlantis AG, a subsidiary of the luxury hotel group Five, was signed on Aug. 27, 2020, for an undisclosed purchase price. The real estate consulting firm CBRE acted as transaction manager.
According to Five Holdings, it had already been looking for a suitable location to launch its concept in Switzerland for a year. The portfolio of the luxury hotel brand so far includes two lifestyle hotels in Dubai Hotels (Five Palm Jumeirah and Five Jumeirah Village) with a total of 1,198 rooms (occupancy: 87%) and more than 20 gastronomy concepts.
"We are excited and proud to add a contemporary touch of gastronomy, art and ambient music to Switzerland's long-standing tradition in the luxury hotel industry," says Kabir Mulchandani, chairman of Five Holdings. With the launch of the new hotel concept in Zurich, Five aims to create more than 260 new jobs in the hotel and restaurant industry, which would represent an increase of 30% from the previous employment figure. The new hotel at the foot of the Uetliberg is scheduled to open next year with then over 87 suites and several gastronomy concepts. (bw)
