Following the acquisition of the investment fund that bought the Pacha Group from Ricardo Urgell (Trilantic) by Five Holdings in October 2023, the year 2024 has left figures in three areas that reflect the change of direction of the iconic brand of cherries. Thus, the Pacha Group has increased the resources allocated to the Pacha Foundation by 350%, has made an unprecedented commitment to the sustainability of its establishments and has strengthened the staff incentive program.
Not surprisingly, in a statement, the Pacha Group points out that “its true strength lies in its people”, which has led it to implement “innovative initiatives that place the well-being of its employees at the center of its mission”.
350% more funding for the Pacha Foundation
Last year, the Pacha Foundation provided unprecedented financial support to initiatives developed in “every corner of Ibiza, both on land and at sea”, which has translated into 350% more funding for the 35 programs in which it participates in the areas of social welfare, arts and culture, sports and the environment.
- The Pacha Group made important contributions to the Club Peña Deportiva de Santa Eulalia del Río.
- It boosted Ibiza’s sporting projection by sponsoring Ibizan athletes in the Paris 2024 Paralympic Games and the Ibiza Marathon, attracting competitors from all over the world.
- Protected the Posidonia meadows through its ongoing collaboration with National Geographic explorer Manu San Felix, offering marine education to young people.
One of the athletes sponsored by Pacha Ibiza.
100% green electricity for Pacha Group
In addition, in 2024, the Pacha Group implemented innovative energy and water management strategies, accelerating progress towards Ibiza’s sustainability and net-zero emissions targets. The Pacha Group is driving Ibiza’s sustainability goals, where currently only 1% of energy comes from renewable sources produced on the island and groundwater reserves are at 39% of capacity.
- The Pacha Group achieved a 34% reduction in its carbon footprint by 2024 by adopting an emission-free energy supply throughout its operations. Pacha Ibiza now runs on 100% green electricity.
- Destination Five Ibiza, now in the process of comprehensive rehabilitation, implemented innovative measures in the management of the water cycle, achieving a 24% saving in consumption during the 2024 season, a figure it expects to increase in the future.
- Pacha Ibiza, El Hotel and Destination Five Ibiza are registered with the U.S. Green Building Council and are moving forward to become the first LEED-certified green buildings in Ibiza.
- Five Destination Pacha aims to achieve LEED Zero Water certification in 2026, reaffirming the Pacha Group’s leadership in sustainable hospitality.
From 3.66 to 7.30 million euros in bonuses for employees
In addition to its social commitment and commitment to the environment, Five Holdings has implemented a plan to reinforce “a rewarding work environment” through equitable financial incentives. Thus, the Pacha Group has emphasized that “by implementing policies that prioritize employee benefits, the group fosters a culture of recognition and inclusion.”
- In 2024, the Pacha Group strengthened variable compensation policies. This initiative included for the first time departments that historically had not had access to variable compensation plans such as Housekeeping, Maintenance, Security and Front Desk. In sum, the Pacha Group increased the incentive plan allocation at Destination Five Ibiza, Pacha Ibiza Nightclub and El Hotel from €3.66 million in 2023 to €7.30 million, representing an impressive 111% increase.
- Directors’ bonuses increased by up to 170% compared to pre-acquisition bonuses.
- The new program also included performance-based bonuses for all headquarters employees, with an increase of up to 1,239%.
