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Island, the leader in after-hours entertaining business? (5)

Ross

I believe the answer is:

ibiza

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'island' is the definition.
(Spanish island)

'leader in after-hours entertaining business?' is the wordplay.
'leader' says to take the initial letters.
'after-hours' becomes 'a' (this could be a standard abbreviation which I don't know about).
'entertaining' means one lot of letters goes inside another (inviting in, as for dinner).
'business?' becomes 'biz' (informal term for business).
The first letter of 'in' is 'i'.
'i'+'a'='ia'
'ia' enclosing 'biz' is 'IBIZA'.

'the' is the link.

Can you help me to learn more?

(Other definitions for ibiza that I've seen before include "part of Spain" , "Mediterranean island" , "Mediterranean location" , "One of the Balearic Islands" , "Clubbers' island" .)

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