Palladium Hotel Group Achieves Revenue Of 948 Million Euros

• The company expects to exceed 1 billion euros in managed turnover in 2023 for the first time in its history, following a year of growth
• Only YOU Hotel will open a new hotel in Seville in 2024 and begins its international expansion with a hotel in Venice scheduled for 2025
• The hotel company has secured the commitment of proprietaries to invest a total of €160 million into refurbishment projects at the hotel group’s existing properties

At FITUR, Palladium Hotel Group announced that it has closed 2022 with an annual turnover figure of 948 million euros, 113% more revenue than in 2021 and 26% more than in 2019. In addition, the group has increased its Average Daily Rate by 29% and its Revenue Per Available Room by 16% compared to 2019. The hotel company, which belongs to Grupo Empresas Matutes, has announced important new developments, including its first hotel in Venice and the refurbishment of several properties in Europe and the Americas.

According to the President of Palladium Hotel Group, Abel Matutes Prats, the “The group continues to consolidate the restructuring carried out in 2020, in which we separated the hotel operator, Palladium Hotel Group, from the rest of Grupo Empresas Matutes’ companies. We are pleased with these good results, which are the fruit of the evolution of recent openings, as well as efforts to improve the customer experience, internal processes and, therefore, the profitability of our management".

In line with this, Jesús Sobrino, CEO of Palladium Hotel Group, reaffirmed that part of the success of these results comes down to the strengthening of hotels such as Grand Palladium Sicilia Resort & Spa, Palladium Hotel Menorca, Only YOU Hotel Valencia and Only YOU Hotel Málaga, which opened their doors in 2021, as well as the great reception of TRS Ibiza Hotel and Hard Rock Hotel Marbella, new openings in 2022. Another highlight of the year pointed out by Sobrino was Etxeko Ibiza by Martín Berasategui, BLESS Hotel Ibiza's restaurant, winning its first MICHELIN star.

The 2022 balance sheet also emphasises the commercial alliance with Wyndham Hotels & Resorts’ Registry Collection, through which Palladium Hotel Group strengthens its distribution and increases its presence in strategic markets such as the United States, by achieving synergies between Palladium Rewards and Wyndham Rewards®, one of the best recognised loyalty programmes in the industry with nearly 100 million members.

Similarly, Sobrino predicted good results for 2023: "In 2022 we managed to exceed the pre-pandemic figures by far and the forecasts for next year are positive, despite challenges facing the sector. We expect a year of moderate growth, in which we anticipate reaching €1 billion in turnover for the first time."

Direct sales and loyalty

The hotel group continues to strengthen its direct sales capacity, reaching a 32% market share in 2022. 68% of this derived from customers affiliated with the Palladium Rewards programme, which has doubled its membership in the last year, welcoming an average of 13,000 new members each month.

Meanwhile Palladium Connect, aimed at travel agents and professionals, has reached 53,000 members, whose bookings have contributed over 50 million euros to the group's annual output.

Expansion and new developments

Palladium Hotel Group has announced the international expansion of the Only YOU Hotels brand to operate a new hotel in Venice, on a leasehold basis, from 2025. This will be the hotel group's first urban hotel in Italy. The current property is planned to be completely renovated into a new 5-star hotel with 168 rooms and several dining areas, including an impressive terrace.

During the first quarter of 2024, Only YOU Hotel Sevilla will also open its doors. The property is currently undergoing a comprehensive refurbishment to become a new 5-star hotel, which will have 226 rooms and a wide range of restaurants and event spaces, including a large outdoor area with a swimming pool. Both interior design projects are being carried out by Lázaro Rosa-Violán’s prestigious international studio.

Hard Rock Hotel Marbella will open its new Oasis building in 2023, adding 174 rooms - including two new categories, the Rock Suite and Rock Star Suite - to the hotel, which opened in 2022. The property will also debut its Rock Spa® and over 900 m² of meeting spaces. Starting from this spring, Hard Rock Hotel Marbella will now be open year-round.

In addition, Palladium Hotel Group has secured significant investment from existing hotel owners for the renovation of its hotels in Europe and the Americas. This budget amounts to 160 million euros for projects to be carried out between 2023 and 2024. Thus, after the extensive refurbishment carried out in 2022 at Grand Palladium Jamaica Resort & Spa, renovations will also be undertaken in 2023 at Grand Palladium Kantenah Resort & Spa in Riviera Maya, and Grand Palladium Palace Ibiza Resort & Spa, as well as additional renovation projects in Mexico and Punta Cana during 2024.

CSR and Sustainability

Palladium Hotel Group has recently announced the strengthening of its Corporate Social Responsibility area thanks to the appointment of Gloria Juste, Corporate Senior Director of Social Responsibility. The main goal is to foster a genuine interest among the company's own employees in projects with a real positive impact on people. In short, Palladium Hotel Group is emphasizing the "S" for “Social” in CSR as it moves towards the future.

Palladium Hotel Group announced that it has been certified as a Top Employer for the third consecutive year in all of the countries in which it operates: Spain, Italy, Mexico, Dominican Republic, Jamaica and Brazil.

Finally, in terms of sustainability, Palladium Hotel Group has exceeded the commitment it made in 2022, announcing that 55% of the company's global energy consumption comes from renewable sources, either through guarantees of origin or solar panel infrastructures. In addition, the group has announced that 100% of the energy consumed in its hotels in Europe, Mexico and Brazil comes from renewable sources.

About Palladium Hotel Group

Palladium Hotel Group is a Spanish hotel chain with over 50 years of experience, owned by Grupo Empresas Matutes (GEM). The group operates more than 40 hotels and over 13,000 rooms, distributed amongst seven countries: Spain, Mexico, Dominican Republic, Jamaica, Italy, Brazil and the USA, and manages ten brands: TRS Hotels, Grand Palladium Hotels & Resorts, Palladium Hotels, Palladium Boutique Hotels, Fiesta Hotels & Resorts, Ushuaïa Unexpected Hotels, Only YOU Hotels, BLESS Collection Hotels, the Hard Rock Hotels Brand under licence with three hotels in Ibiza Tenerife and Marbella and the ephemera brand 45 Times Square Hotel. Palladium Hotel Group is characterized by its philosophy of attention to its team and to offering its clients high quality products and services. www.palladiumhotelgroup.com