Dubai holdings company FIVE Holdings had reportedly purchased a €320 million stake in Pacha Group to split the acquisition with the current owners, Trilantic Capital Partners.
Trilantic Capital Partners bought Pacha Group in 2017 and will not lose control over the Lío brand, their luxury arm with hotspots in Ibiza, Mallorca, Mykonos, and London.
Instead, FIVE will look after Pacha’s nightclub and hotel divisions including their legendary Balearic venues.
Five Holdings is best known for its internationally recognized hotels including FIVE Dubai Palm Jumeirah; Villa Myra, Villa Pera and Cappadocia in Jumeirah Village Circle; Bahar 4 in Jumeirah Beach Residence; and SKAI Residency.
Their Dubai properties are world-renowned for their commitment to sustainability, becoming the first hotel chain in the UAE to become 100% powered by renewable energy in 2022.
Pacha is one of Spain’s largest hotel and nightclub companies including a collection of party-focused hotels in Germany and Mykonos alongside Pacha Ibiza which celebrates its 50th anniversary this year.
The money from the acquisition could help Pacha open new luxury Lío locations in Miami, Las Vegas, and Dubai.
Featured image credit Pacha Ibiza
