Will Privilege Ibiza reopen as a club in 2024?
The Ibiza 2023 season has been a success in every way, surpassing historical figures in terms of leisure, restaurants and accommodation. This summer, Privilege Ibiza 2023 was also closed, where many visitors wonder, how is it possible that the biggest club in the world is closed?
This summer they have been the reopening of all the clubs on the island, all but one: Privilege Ibiza. Considered the biggest club in the world, it was the only one that did not reopen.
Grupo Empresas Matutes buy Privilege Ibiza
The purchase was made after the Supreme Court rectified a ruling by the Provincial Court that where Matutes could be made with 55% of the shares of Privilege, shares that were in the hands of Etxániz at a price by the Mercantile Registry.
From Grupo Empresas Matutes they announced that Privilege Ibiza would not open its doors this summer because it needs reforms and tuning to be able to reopen its doors.
Could Privilege Ibiza open in 2024?
Since last June the announcement was made that the former Ibizan club is now owned by Grupo Matutes, which has similar entertainment interests in Hï Ibiza and Ushuaïa Ibiza.
Speculations have been opened in the absence of any official announcement by the company. Will it continue to be the biggest club in the world or will it be redeveloped into a hotel, or could it be torn down and redeveloped for its core real estate value?
Reasons for the reform
This club had drastic news in 2013 when a young Dutchman who works at the legendary Armin Van Burren’s State Of Trance party almost lost his life when a part of the roof fell on him. It was then the same roof that bankrupted its original owners of what was formerly called KU where it collapsed in the early 1990s. Will Grupo Matutes want to invest the millions needed to fix the crumbling structure?
If you know a bit of history about Grupo Matutes, they are a very solid company and they represent a high percentage of the island of Ibiza. A wise group that knows what they are doing at all times for the good of the island, Privilege will surely not be a disappointment for Ibiza 2023.
Much has been said that another option open to its new owners is to return to its original KU state, removing the roof and thus being able to do all kinds of events, restaurants and hotel rooms similar to its sister Ushuaïa Ibiza.
It should be remembered that the Matutes group already owns Ushuaïa, being a tourist reference with these concepts, for which they could rule out that option since they are not the best location in terms of better views and on the beach as guaranteed by Playa d’en Bossa.
Privilege Ibiza will beat again in Ibiza after 3 years of inactivity?
Currently the island is experiencing a major housing crisis, Privilege sits on building land next to an industrial estate, so it should be easy to rezon residential land with the support of local residents.
Everything will depend on a study where Privilege could be demolished as Space was and remodeled for private or commercial buildings, assessing the costs and making a safe bet on Grupo Matutes that will decide the future of the club very soon, surely we will know the news before March 2024.