based on an improved air oxidation of cumene to cumene hydroperoxide (CHP) followed by a unique acid catalyzed decomposition of CHP to phenol and acetone. The process utilizes the most advanced and highly efficient technologies for: cumene oxidation and cumene hydroperoxide decomposition (Cleavage), Oxidation off-gas zeolite treatment from cumene and methanol, hydroxyacetone removal from CHP cleavage product, fractionation of acetone with high stability to oxidation and zeolite phenol treatment from impurities.