Palladium Hotel Group anticipates a positive start for the summer season, both in terms of occupancy rates and profitability. The group, which has seen its growth consolidated in recent years and ended 2024 with a revenue of more than 1.2 billion euro, estimates that it will surpass 90% occupancy during Easter in its holiday hotels in Spain and Italy (Sicily). The group also expects its RevPAR to double from last year.
This growth in RevPar is expected to be accompanied by an increase in occupancy and ADR in Ibiza where the group operates ten hotels. In the other European destinations of Palladium Hotel Group (Tenerife Marbella, and Sicily), improvements in RevPAR are primarily driven by higher occupancy.
British holidaymakers will contribute to the group’s positive Easter forecasts. The UK forms the primary European market for the group’s hotels, accounting for a 27% share of the market from May-October last season. Last season, British tourists accounted for 28% of the market in the Balearics, while the market share in Tenerife was even higher at 62%.
The good forecasts for this season are due to better weather conditions expected early in the season, and a greater frequency of flights, as Easter will be celebrated three weeks later in 2024, in mid-April. In this context, hotel management company is planning to open their seasonal hotels in April.
Openings of seasonal hotels
The first of the group’s hotels to open the season will be Grand Palladium Sicilia Resort & Spa, located in Campofelice di Roccella in the north of Sicily, which will open its doors on 3 April. A day later, on 4 April, one of this year’s key new offerings will be launched: Grand Palladium Select Palace Ibiza, which will become the second hotel within the Grand Palladium Hotels & Resorts brand to join the Grand Palladium Select Collection of hotels. This premium proposal will transform the travel experience with new services, facilities and a high quality culinary offering. Also on 4 April, Hard Rock Hotel Ibiza, Palladium Hotel Cala Llonga and Palladium Hotel Palmyra will start their season, followed by Grand Palladium White Island Resort & Spa on 11 April.
On 17 April, the grand opening of The Unexpected Ibiza Hotel will take place, marking the debut of The Unexpected Hotels brand in Ibiza, following the renovation and conversion of The Ushuaïa Tower. The new brand, inspired by the iconic Ushuaïa Ibiza Beach Hotel, aims to elevate its hotel proposal to a new concept of luxury and exclusivity, promising to surprise travellers. On the same day, BLESS Hotel Ibiza will also open its doors with a new gastronomic proposal, Lumbre, which honours the Mediterranean.
The first five-star all-inclusive hotel in Ibiza that is for adults only, TRS Ibiza Hotel, will open on 24 April and, a day later, Ushuaïa Ibiza Beach Hotel and Palladium Hotel Menorca will open. In addition to these hotels, within Europe Palladium Hotel Group also manages Hard Rock Hotel Marbella and Hard Rock Hotel Tenerife, which remain open all year round.
