The present invention relates to a process for conversion of a hydrocarbon feed comprising saturated hydrocarbon compounds to olefin products comprising contacting a hydrocarbon feed stream with a catalyst in an oxidic form of the formula M1M2M3M4O comprising metals M1, M2, M3 and M4, wherein: M1 is selected from Si, Al, Zr, and mixtures thereof; M2 is selected from Pt, Cr, and mixtures thereof; M3 is selected from W, Mo, Re, and mixtures thereof; and M4 is selected from Sn, K, Y, Yb and mixtures thereof; wherein: mass fraction of M1 is in the range of 0.1 to 0.8; mass fraction of M2 is in the range of 0.001 to 0.2; mass fraction of M3 is in the range of 0.001 to 0.2; mass fraction of M4 is in the range of 0.0001 to 0.2; and mass fraction of oxygen is in the range of 0.1 to 0.8.