Palladium Hotel Group has launched a new luxury sub-brand in its portfolio named Grand Palladium Select Collection. The group announced that the brand’s first hotel will open in Costa Mujeres, Mexico, in January 2025.
The rebranded Grand Palladium Select Costa Mujeres will be joined by a second property in Ibiza during the summer season. The third property, Grand Palladium Select Bavaro, is scheduled to open in December 2025 in Punta Cana. All properties selected for upgrades to the brand feature stunning beaches, top-notch cuisine, and the best guest entertainment Palladium has to offer. is already well known.
Strong performance in 2024
The group reported strong hotel performance through summer 2024, with a 14% increase in profitability at its European properties and a 5% increase at its Caribbean resorts. The year is expected to end on a strong note, with full-year 2024 sales expected to rise by around 13% year-on-year in the Caribbean and the Americas, and 5% in the Canary Islands. In particular, more and more guests are booking long-term stays that combine leisure and work.
Group revenues are expected to exceed last year’s record of 1,069 million euros. Palladium reported that Grand Palladium Sicilia Resort & Spa in Italy was the best performer, with a 15% increase in profitability. The company said guests from the UK were a major source market for European resorts, accounting for 27% of all arrivals and 28% in the Balearic Islands in particular. In Tenerife, the percentage is as high as 62%.
Palladium’s resorts in the Caribbean and Americas primarily serve guests in the United States, accounting for 24% of arrivals. Despite longer travel times, the UK remains the second largest origin market, accounting for 12% of overnight guests.
“We are very pleased with the results achieved this summer season,” said Sergio Zertuche, Chief Sales and Marketing Officer of Palladium Hotel Group. “We overcame the downturn in summer travel in the Caribbean and Americas, as well as a slight decline in demand in Europe due to the Euros and the Olympics.”
The Select Collection sits at the top of three tiers of products under the Grand Palladium banner. Guest choices include Family Selection and Signature Level.
Family Selection, currently offered at three resorts with a fourth on the way, puts kids first and features entertainment and butler service designed for families. Currently available in Brazil, Ibiza, Jamaica and Sicily, the Signature Level offers a personalized stay experience with special amenities and benefits tailored to guests’ desires.
Build from a broad base
Today, Palladium operates more than 40 hotels with more than 13,000 rooms in eight countries. In addition to its home market of Spain, the company also has European resorts in Italy. It is located in the United Arab Emirates and has resorts in the Americas, Mexico, Dominican Republic, Brazil and Jamaica.
In addition to the Grand Palladium hotel, the group also owns a variety of other hotels, including TRS Hotels, Palladium Hotels, Fiesta Hotels & Resorts, Ushuaia Unexpected Hotels, The Unexpected Hotels & Residences, Only You Hotels, Breath Collection Hotels, and many more. We also operate branded hotels. . In addition, the company operates three Hard Rock Hotels under license in Ibiza, Marbella and Tenerife.
