Terra Mítica (Valencian pronunciation: [ˈtɛra ˈmitika]) is a theme park located in Benidorm, Spain. The park is divided into 5 themed zones: Egypt, Greece, Rome, Iberia, and the Islands (of the Mediterranean). The park was opened in 2000. In 2004-2006 the park went through a bankruptcy process. In 2001, a year after park opening, Paramount Parks entered into an agreement to manage Terra Mitica, and the park was branded as a Paramount Park for the following season. In 2004 Paramount Parks filed for the Spanish equivalent of bankruptcy protection from its creditors. Since then the park has been operating independently. Terra Mítica emerged from temporary receivership in 2006, after restructuring its expenses, reducing labor costs, and canceling debt through the sale of excess park land. After generating, on average, a negative operating profit of 8 million € per year from its inception, Terra Mítica produced positive EBITDA in 2006. For the 2008 season, Terra Mítica added a new free access area including major branded food chains and shops as well as an outdoor adventure park. Plans for the 2009 season include the addition to shopping outlets adjacent to the Iberia section of the park. A hotel is also planned to be built by Ortiz Hijos in the area just behind the Egypt section of the park.