The legendary nightclub Pacha is going up for sale with several other properties for a breathtaking EUR 500 million price tag.
Current owners Madrid based Trilantic venture capital fund are selling up after going through a tough time during the COVID-19 pandemic.
Its 16 nightclubs, including the Madrid club as well as the most famous of them all on the party island of Ibiza.
The groups assets include restaurants and hotels in key global destinations such as London and Dubai and all of suffered in the crisis.
The venture capital fund is said to be worth between EUR 400 and 500 million, according to Spanish news outlet El Confidencial.
And while it is made up of numerous restaurants, hotels and clubs, its most iconic venue is the Pacha nightclub, reportedly founded in 1967 by Ricardo Urgell, who was 28 at the time.
The Urgell family retained a 10% share in the company.
Despite a tough time during the pandemic lockdown, the Trilantic group is said to have had a record summer, with strong numbers, especially from two other locations, the Lio Ibiza and the Lio Mikonos, which are popular with celebrities.