The news are official, FIVE Holdings now owns Pacha Group, famous for their Ibiza flagship club and two hotel island properties on its books. FIVE Holdings, the internationally-prestigious hospitality and real estate conglomerate from Dubai, has bought Pacha Group for $330 million. According to Billboard, FIVE Hospitality and The Pacha Group CEO Aloki Batra said that the sale had its beginnings at “an event in Mykonos two and a half years ago. Details of the sale include the acquisition of the Toy Room Club, which has multiple locations in Europe, India and the Middle East, and WooMoon and Storytellers, two exciting parties that happens in Ibiza and Tulum respectively. However, franchised clubs in Barcelona and Munich are exempt from this acquisition.
*Featured Cover Photo Credit: Ibiza Pacha
FIVE Holdings owning Pacha Group will mark the start of a new powerful force in the hospitality entertainment industry
Triatlantic Capital Partners, which acquired the Pacha Group in 2017, declined to comment on the sale. Furthermore, Aloki Batra also mentioned that their flagship Ibiza club will see vast amounts of upgrades to its interior, as well as implementing new features on how to track attendances via NFT wristbands.
Additionally, with the new acquisition of Pacha Group, the Ibiza club’s iconic record label Pacha Recordings could release pre-recorded DJ sets on DSPs for their supporters. By the time 2025 arrives, Pacha’s other properties could become even more dynamic and places everyone should attend when they visit Ibiza. Only time will tell when FIVE Holdings’ acquisition of Pacha Group plays out throughout the whole year of 2024.
