Foreign capital is once again investing in the Spanish hotel sector. Dubai-based real estate and hotel development group Five Holdings has acquired the hotel assets and nightclubs of the iconic Pacha Group in Ibiza. The amount, as reported by El Diario de Ibiza, is set at 320 million euros.
In 2017, private equity fund Trilantic Capital Partners purchased the Pacha Group, including its entire portfolio. At the end of 2022, the group decided to put the Pacha Group back on the market. The intention, as announced by El Confidencial, was for Trilantic Capital Partners to find a partner capable of financing international expansion. With this deal, Five Holdings becomes the majority partner of the Pacha Group alongside the fund.
Meanwhile, the cabaret venues Lío, with locations in Ibiza, Mallorca, Mykonos (Greece), and London (United Kingdom), will remain the property of Trilantic Capital Partners, which will operate them through a new company. In the short term, the goal is to expand to new destinations such as Miami and Las Vegas in the United States, or Dubai in the United Arab Emirates.
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