Sunday, December 10, 2023

Palladium Hotel Group reaches revenues of US$948 million and exceeds its pre-pandemic business volume by 26%

Palladium Hotel Group has made a positive balance of 2022 in Fitur, after closing the year with a turnover of 948 million euros, which represents 113% more revenue compared to 2021 and 26% more compared to 2019.

In addition, the group has increased its ADR by 29% and its REVPAR by 16% compared to 2019. Likewise, the company belonging to the Grupo Empresas Matutes has announced important innovations, such as its first hotel in Venice or the reform of several establishments in Europe and America.

For the president of Palladium Hotel Group, Abel Matutes Prats, “we continue to consolidate the restructuring carried out in 2020, in which we separated the hotel operator, Palladium Hotel Group, from the rest of the companies of Grupo Empresas Matutes. We are satisfied with these good results, which are also the result of the evolution of recently opened hotels, as well as the effort to improve the customer experience, processes and, therefore, the profitability of our management”.

In line with this, Jesús Sobrino, CEO of Palladium Hotel Group, has reaffirmed that part of the success of these results is due to the consolidation of hotels such as Grand Palladium Sicilia Resort & Spa, Palladium Hotel Menorca, Only YOU Hotel Valencia and Only YOU Hotel Málaga, open in 2021, as well as the great reception of the TRS Ibiza Hotel and Hard Rock Hotel Marbella, inaugurated in 2022. In addition, it has stood out as one of the milestones of the year, the obtaining of the first MICHELIN Star by the restaurant of BLESS Hotel Ibiza, Etxeko Ibiza by Martín Berasategui.

The 2022 balance also highlights the commercial alliance with Registry Collection Hotels of Wyndham Hotels & Resorts, through which Palladium Hotel Group strengthens its distribution and increases its capillarity in markets as strategic as the United States, by achieving synergies between Palladium Rewards and Wyndham Rewards®, one of the strongest and most recognized loyalty programs in the industry with nearly 100 million members.

In the same way, Sobrino has predicted good results for 2023. “In 2022 we have managed to far exceed the pre-pandemic figures and the forecasts that we manage for the next year, despite the challenges facing the sector, are positive. We expect a year of moderate growth, in which we expect to reach 1,000 million euros in managed business volume for the first time”.

Direct sales and loyalty

Regarding direct sales capacity, an area that the company continues to strengthen, it has reached a 32% market share in 2022, of which 68% comes from customers affiliated with Palladium Rewards. Program that has doubled its number of members in the last year, managing to incorporate an average of 13,000 new members per month.

For its part, Palladium Connect, aimed at travel agents and professionals, has reached 53,000 affiliates, who have contributed more than 50 million euros of reservations to the group’s annual production figure.

Expansion and news

Palladium Hotel Group has announced the international expansion of the Only YOU Hotels brand to operate, under lease, a hotel that will open its doors in 2025 in Venice. This will be the first urban hotel of the hotel group in Italy. The total renovation of the current property is projected to turn it into a 5-star hotel with 168 rooms and various restaurant spaces, among which an impressive terrace stands out.

In addition, during the first quarter of 2024, Only YOU Hotel Sevilla will open its doors. The asset is currently undergoing a comprehensive reform process to become a new 5-star hotel, which will have 226 rooms and an important restoration proposal and spaces for events, including a large outdoor area with a swimming pool. Both interior design projects are carried out by the prestigious international studio of Lázaro Rosa-Violán.

For its part, Hard Rock Hotel Marbella inaugurates its Oasis building this year, with which it adds 174 rooms, which include two new categories, Rock Suite and Rock Star Suite. The hotel will also debut its Rock Spa® and more than 900 m2 of meeting spaces. Also, from this spring Hard Rock Hotel Marbella will remain open all year.

On the other hand, Palladium Hotel Group has managed to commit significant investments by the owners of already existing assets for the reform and renovation of hotels in Europe and America. Said budget amounts to 160 million euros for projects to be carried out between 2023 and 2024. Thus, after the extensive remodeling carried out in 2022 at the Grand Palladium Jamaica Resort & Spa, this 2023 renovations will be undertaken at the Grand Palladium Kantenah Resort & Spa, in Riviera Maya , and Grand Palladium Palace Ibiza Resort & Spa, while for the next 2024 renovation projects will be added in hotels in Mexico and Punta Cana.

CSR and Sustainability

Palladium Hotel Group has recently announced the reinforcement of the CSR area with the incorporation of Gloria Juste, Corporate Sr. Director of Social Responsibility. The objective in this area is to foster genuine interest among the company’s own team for projects with a real and positive impact on people. In short, Palladium Hotel Group places the accent on the “S” of Social to continue advancing towards the future.

On the other hand, in the field of human resources, Palladium Hotel Group has announced its certification as Top Employer for the third consecutive year in all the countries in which it operates: Spain, Italy, Mexico, the Dominican Republic, Jamaica and Brazil.

Finally, in terms of sustainability, Palladium Hotel Group has exceeded the commitment made in 2022, announcing that 55% of the company’s global energy consumption comes from renewable sources, either through guarantees of origin or photovoltaic panel infrastructures for self-consumption. Additionally, the group has announced that 100% of the energy consumed in hotels in Europe, Mexico and Brazil comes from renewable sources.


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