One of Ibiza’s most iconic nightclubs is now under new ownership. Last week, Billboard confirmed that Pacha Group, which operates Pacha Ibiza and two White Isle hotels, has been acquired by Dubai-based real estate and hospitality group FIVE Holdings, following rumors of a sale in the summer.
FIVE Holdings’ acquisition of The Pacha Group, which includes all three of their Ibiza properties, is worth close to $330 million, FIVE Hospitality and Pacha Group CEO Aloki Batra told Billboard.
According to Batra, the sale had been in the works for nearly two and a half years and also includes FIVE Holdings’ purchase of the Toy Room Club, a nightclub brand with locations in Europe, India and the Middle East, as well as the WooMoon Storytellers party series. Pacha’s franchised locations in Barcelona and Munich are not part of the sale.
Since 2017, The Pacha Group was owned by private equity firm Trilantic Capital Partners. FIVE’s acquisition of The Pacha Group sees the holding company secure its first properties in Ibiza.
FIVE is already planning small changes to Pacha Ibiza, such as new lighting systems and production elements, expanded VIP areas and NFT wristbands that will help track club attendance.
Pacha’s new owners also plan to revive Pacha Recordings and publish pre-recorded sets using Digital Signal Processing (DSP), a technology typically enlisted to improve sound quality when converting audio from analog to digital.
“We have this rich legacy and need to take it ahead for the digital age and the customer of today,” Batra told Billboard. “I think that’s a huge opportunity for us, and it’s great for the fans, because we intend to bring your favorite club closer to you.”
Pacha’s current residencies will remain in place, including Solomun’s famed “+1” parties on Sunday nights. However, Batra added that the nightclub will look into booking more reggaeton acts, mentioning popular artists like Maluma and J Balvin.
Pacha’s resort properties El Hotel Pacha Ibiza and Destino Pacha Ibiza will undergo “significant upgrades” and become FIVE branded properties no later than 2025.
Featured image from Pacha Ibiza.
