- Palladium Hotel Group anticipates 9pc increase in Spanish business.
- The group invested more than €90m in The Site Ibiza.
- Balearic ADR increased 5pc for Spanish travellers and up to 10pc for British visitors.
- Tenerife ADR climbed 4pc.
- Spain is Palladium’s second-largest European source market behind England.
Palladium Hotel Group is anticipating a 9pc increase in its Spanish business for the summer season driven by higher average daily rates particularly in the Balearics and Tenerife. The group has invested more than €90m in its Ibiza project combining luxury accommodation with retail and dining concepts. The performance solidifies Spain as the hotel chain’s second-largest European source market behind England.
The group’s financial surge has been supported by value-driven strategies marked by an improvement in the average daily room rate across key coastal destinations. Balearic Islands ADR increased by 5pc for local Spanish travellers and up to 10pc for British visitors. Tenerife ADR saw a steady climb of 4pc. Spanish domestic travellers now account for 10pc of the group’s total business within the country.
Palladium has invested over €90m into The Site Ibiza, a complex in Playa d’en Bossa combining premium hotels with high-end retail, art and gastronomy partnerships. The group’s expansion into urban luxury continues with the launch of BLESS Hotel Barcelona.
