Leisure & Hospitality Five completes $322m deal for Ibiza hotel business By Gavin Gibbon October 13, 2023, 10:35 AM Creative Commons/Danny Wade/Pacha Five Holdings has completed the purchase of the hotel and nightclub businesses of Ibiza’s Pacha Group Aquisition confirmed on LSE Includes Pacha Nightclub, Destino Pacha Hotel Funded by a five-year green bond Five Holdings, the UAE real estate and hospitality group, has completed the purchase of the hotel and nightclub businesses of Ibiza’s Pacha Group in a deal worth $322 million. The acquisition was confirmed in a note on the London Stock Exchange (LSE). It includes the Pacha Nightclub, Destino Pacha Hotel, El Hotel Pacha, Toy Room Club and WooMoon Storytellers (globally) as well as registered trademarks. Funding for the acquisition came from the issuance of a green bond and a revolving credit facility. UAE entities explore green finance prospects Dubai hotelier’s $350m green bond to fund Ibiza expansion UAE hotel revenue hits $7bn as guest numbers surge 15% Five raised $350 million from the five-year green bond, which was listed on Dubai’s Nasdaq in September and was priced at a yield of 9.625 percent. A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects. The statement added that Five Holdings is “promising a new era of exciting ventures in the entertainment industry”. Five’s hotels include Five Palm Jumeirah, Five Jumeirah Village, Five Luxe and its first international property, Five Zurich. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
