Ibiza's legendary Pacha nightclub is on sale for 500 million euros

Anyone with a party streak - nay, party sliver - will have heard of Ibiza’s legendary nightclub Pacha.

Perhaps one of the party island’s most famous clubs, it has come as quite the surprise to hear that the owners of Pacha are selling the joint for a cool 500 million euros, which has been reported by Spanish newspaper El Confidential.

To be fair, the eye-watering cost includes several other properties owned by group Trilantic, which is selling off 16 of its nightclubs, restaurants and hotels, all of which suffered during the pandemic. 

Spanish media puts Trilantic’s worth at somewhere between 400 and 500 million euros, and while Trilantic is made up of numerous restaurants, hotels and clubs, its most iconic venue is undoubtedly the Pacha nightclub.

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But despite a tough time during lockdown, Trilantic is said to have had a record summer with strong numbers.

Founded by Ricardo Urgell, Pacha swung open its doors in 1973 and has been attracting partygoers ever since. 

Ugell is thought to have picked the name ‘Pacha’ after joking to his wife that by opening a nightclub, they’d be able to live like ‘pachas’ - which means ‘Arabian prince’.

By the nineties, Pacha had evolved into a superclub that could accommodate up to 3,000 people spread throughout different rooms, each of which was dedicated to a specific music genre. 

Last month, nightclubs in Ibiza and Palma made headlines following a number of 'serious' incidents that involved women being injected on the premises. 

As a result, the British Consulates in Palma and Ibiza stepped in to relaunch their annual 'Stick With Your Mates' campaign to encourage young tourists to stick together on holiday.

UK Ambassador Hugh Elliott said: "We know how excited young people will be about what may be their first holiday abroad for at least two years.

"The Balearics are a fantastic and safe destination, but we want to make sure that our visitors are aware of the local rules and know how to stay safe on a night out.

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"We are working closely with the Balearic Government whose new measures include limiting excessive consumption of alcohol and anti-social behaviour."

He added: "We all have a responsibility to know the rules, stick to them and ensure a great holiday for ourselves, and those around us.

"The best way to do that is to make sure that you look after your mates – stick together on a night out.

Majorca's Guardia Civil investigated the incidents at the time.