Palladium Hotel Group Announces New Projects Following A Year In Which It Achieved Over 1 Billion Euros Revenue

Thursday, Jan 25, 2024 0

Palladium Hotel Group achieved a total revenue of over 1 billion euros in 2023
The hotel group will celebrate the opening of Only YOU Hotel Sevilla this spring, and aims to expand next to destinations such as the United States and the Middle East, in addition to Mexico and the Mediterranean
Palladium Cares has opened its first professional training centre CSR initiatives in Central America and the Caribbean, in collaboration with over 30 local NGOs in Europe

Leading Spanish hotel group Palladium Hotel Group announced that 2023 was a record-breaking year, in which the Spanish hotel management company achieved an annual revenue of over €1 billion. The group has also announced important new developments, including new openings and expansion plans.

The 2023 revenue figure represents a 16% increase compared to the previous year, confirming the company’s pathway to sustainable growth. In line with this, the group has increased its REVPAR by 14% compared to 2022. According to Abel Matutes Prats, President of Palladium Hotel Group, “Surpassing the threshold of 1 billion euros in revenue reinforces our business model, where growth accompanied by the essential pillars of profitability and customer satisfaction is a winning bet.”

In 2023, 98% of the group’s hotels were above the industry average on the recommendation index, and 75% of its hotels were above the direct competitor set in terms of their online reputation on social networks, according to ReviewPro. Additionally, the Palladium Rewards loyalty program continues to grow, welcoming over 25,000 new members each month and contributing up to 70% of direct sales revenue.

Jesús Sobrino, CEO of Palladium Hotel Group, added: “Our main objectives are continuing to grow profitably, sustainably, and responsibly. As independent operators and owners of our brands, we strive every day to elevate the trust of our owners and customers.”

Key 2023 milestones, expansion plans and growth

Sobrino highlighted the renovations carried out at Grand Palladium Kantenah Resort & Spa in Riviera Maya, where Bravo Dinner & Dance, a new entertainment concept, and Family Selection, the group’s VIP offering for families, were introduced in 2023. Following this opening, the group now has a total of 444 suites in three destinations in Mexico: Puerto Vallarta, Costa Mujeres, and Riviera Maya.

In Spring 2024, Only YOU Hotel Sevilla will open its doors. The 5-star hotel will house 226 rooms and a significant range of dining and event spaces, including a spacious outdoor area with a pool.

Also this year, conversion work will begin on the current Palladium Hotel Palmyra, owned by Grupo Empresas Matutes and located in the municipality of Sant Antoni in Ibiza. Following an investment of 13 million euros, it will become a new five-star hotel.

Only YOU Hotels will continue its international expansion with the opening of a five-star hotel in Venice in 2025. This will be the first urban hotel for the group in Italy and the second managed property in the country for Palladium Hotel Group, which already has a resort in Sicily: Grand Palladium Sicilia Resort & Spa.

Additionally, the group will commence renovations at Grand Palladium Imbassaí Resort & Spa, Brazil.

Finally, following the opening of 45 Times Square Hotel in New York, Palladium Hotel Group announced it will now look to focus on other cities in the United States such as Miami, Los Angeles, or Chicago; in addition to other destinations in Mexico, the Middle East, and the Mediterranean, where the group is exploring expansion opportunities aligned with its portfolio brands.

Palladium Cares celebrates the opening of the first training centres in the Americas

Palladium Cares, the group’s CSR project structured around the three pillars of Our People, Our Community, and Our Planet, has made significant advances in 2023.

The “4 causes to take action” project – developed in Europe and comprising of four phases focusing on childhood, inequality, the planet, and the care of the elderly – has already undertaken 56 activities in collaboration with 30 NGOs, involving more than 300 volunteers.

In Central America and the Caribbean, Palladium Cares has successfully launched the first local training centres in Jamaica to benefit the local population, as well as a curriculum tailored to the specific needs of local communities in Mexico, in collaboration with the Origen Foundation. The hotel company aims to reach up to 2,500 beneficiaries annually in Mexico and 600 in Jamaica, helping to close the inequality gap and improve the prospects of stable and qualified employment for the local population.

Finally, in Brazil, Palladium Cares has launched a Training and Agricultural Production Centre in Curralinho, Bahia. Its main mission is to train the local community in producing sustainable agricultural produce, whilst educating them on how to market their products to local hotels.

In Human Resources news, the company has just received the Top Employer certification for the fourth consecutive year. In the same vein, the ‘Happy Trainee’ recognition, awarded by the certifier Choose My Company, emphasises the group’s standing as an attractive centre for young talent. Both distinctions recognise Palladium Hotel Group’s efforts to develop an excellent work environment. In terms of training and talent acquisition, the group continues to consolidate partnerships with universities and prestigious entities such as Basque Culinary, Vatel, Le Rocuhe, Laussan, and CSHGel, among others.