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Madrid, Spain. – Palladium Hotel Group achieved a positive balance in 2024, after registering a total of 1.3 billion euros in managed business volume, a result that represents an increase of 12% compared to the previous year, and confirms the company's sustained growth since it was consolidated. as a hotel manager in 2020.
The financial status of Palladium Hotel Group was disclosed this Thursday in a press document from the hotel group.
In global terms, the group has managed to increase its RevPAR by 10% compared to the previous year. This increase is supported by a 3% growth in occupancy and 7% in average price. Likewise, the direct sales share has increased by 19% compared to the previous year, standing at 29%.
The positive performance of the loyalty programs for end customers stands out, Palladium Rewards – which has more than 1.1 million customers, incorporating more than 45,000 new members every month -, and Palladium Travel Club. In total, both programs have earned a total of 200 million euros, contributing 84% to the group's total direct sales share in 2024.
In terms of satisfaction, Palladium Hotel Group has managed to place 80% of the hotels it manages above the direct compset average. Likewise, 93% of the group's portfolio has received ratings above the sector's average recommendation index. Both results demonstrate the excellent perception that customers have of the hotels operated by Palladium Hotel Group.
For the president of Palladium Hotel Group, Abel Matutes Prats, “in 2023, the group has already reached an important milestone, entering the elite of hotel companies that exceed 1,000 million in turnover. In 2024 we have consolidated this achievement, growing at double digits, and we begin the year with positive forecasts, which we hope will allow us to solidly consolidate our business model, based on a healthy and profitable growth strategy, always seeking to offer our guests an experience unique and unforgettable.”
For his part, Jesús Sobrino, CEO of Palladium Hotel Group, highlights that “we are very satisfied with the results obtained in 2024, which represent 12% growth compared to the previous year and 60% compared to 2019. In addition, we began a 2025 with very positive expectations, with important projects, and the intention to expand our growth horizon in key destinations, such as Southeast Asia and the Middle East. To achieve this, we work with the objective of strengthening the strategic alliances we maintain with partners and owners, and establishing new relationships that facilitate said growth.”
Milestones for 2024 and news for 2025
2024 has been a positive year for the company, not only in economic terms but also in new projects. In Europe, the opening of Only YOU Hotel Sevilla was celebrated in April, and the company's return to Barcelona with 45 Times Barcelona Hotel in November.
While, in the Caribbean, the group added The Signature Level premium program to the Grand Palladium Lady Hamilton Resort & Spa, located in Montego Bay (Jamaica).
Regarding the new developments planned for this year, the opening of The Unexpected Ibiza Hotel stands out, scheduled for April. The hotel will have 181 rooms and suites and an excellent culinary and entertainment offering. This will also be the first opening of the new brand The Unexpected Hotels, inspired by the iconic Ushuaïa Ibiza Beach Hotel, with which the company seeks to grow internationally.
Since January, Grand Palladium Select Costa Mujeres has been part of the exclusive selection of the best hotels of the Grand Palladium Hotels & Resorts brand with privileged services and facilities, Grand Palladium Select Collection. This will be followed by Grand Palladium Select Palace Ibiza in April and Grand Palladium Select Bávaro in Punta Cana at the end of 2025.
Finally, in Punta Cana, the group is carrying out a renovation project, which will culminate at the end of the year, transforming Grand Palladium Bávaro Suites Resort & Spa, and will incorporate the VIP program for families, Family Selection at Grand Palladium Hotels & Resorts , until now present only in Mexico.
Expansion plans with a focus on Asia and upcoming confirmed openings
Palladium Hotel Group is working with an ambitious expansion plan, which, for the first time, focuses on Asia. The group takes in Southeast Asia, specifically Singapore, Vietnam, Indonesia and Thailand; as well as Saudi Arabia and the Emirates, in the Middle East, as key objectives to have a presence in the coming years.
Likewise, it works to search for opportunities in the United States, Mexico, prominent capitals in Latin America and Europe, and tourist enclaves in the Mediterranean, such as Morocco, Greece or Croatia, among others.
Regarding confirmed projects, the opening of Only YOU Hotel Venice Bonvecchiati, owned by Ece Real State and Soravia, is expected to open in the last half of 2026. The five-star hotel will have 162 rooms and is located 150 meters from the emblematic St. Mark's Square. That same year, the conversion of the current 45 Times Barcelona Hotel will be carried out, for its incorporation into the BLESS Collection Hotels portfolio.
In 2027, the group plans the second opening of The Unexpected Hotels brand in Ras Al Khaimah (United Arab Emirates). The ambitious project, which comes from Al Marjan and Almal Real Estate Development, will attract more than $100 million in investment and will include 422 rooms.
Likewise, in 2027 the openings of Only YOU Hotels are planned in Ibiza and New York, consolidating the internationalization of this brand in the Palladium Hotel Group portfolio.
Palladium Cares continues to develop social impact projects in Europe and America
Palladium careThe CSR area of Palladium Hotel Group continues to promote projects under its three axes: Our People, Our Community and Our Planet.
The results of the initiative stand out “4 Causes to Take Action”, which has already collaborated with 92 NGOs, mobilized 1,220 volunteers and benefited more than 4,310 people in Europe and the Dominican Republic. Throughout 2025, this project will be extended to all destinations in America in which the group operates.