• The hotel group recorded occupancy peaks of up to 90% in the main months of the summer season and anticipates good results for the rest of the autumn and winter.
  • Pent-up demand, the opening of new hotels and a longer season have been key to the development of the first months of the year.
  • The company is optimistic about the occupancy forecasts for its hotels in the Caribbean, which have strengthened their distribution capacity thanks to a recent commercial agreement with Wyndham Hotels & Resorts.

Palladium Hotel Group has concluded the summer season in the Balearic Islands and Costa del Sol with very positive closing figures. The company forecasts a similarly positive autumn and winter for its hotels in Tenerife, Madrid and the Caribbean. This result underpins the forecast made at the FITUR trade fair in Madrid in January, that the group’s turnover figures for 2022 would outstrip those of 2019.

Hotels in the Balearic Islands and on the Costa del Sol have recorded peaks of up to 90% occupancy in July and August. In September, meanwhile, results have exceeded those achieved in 2019, with figures of around 85%, and around 70% in October for seasonal hotels.

Palladium Hotel Group sees several factors being responsible for the positive development in 2022. On the one hand, pent-up demand exploded in the summer months thanks to the easing of anti-coronavirus measures throughout Europe. The early start to the season (which has made 2022 one of the longest summer seasons ever) has also played an important role, as has the opening of two new hotels: TRS Ibiza Hotel and Hard Rock Hotel Marbella. A further positive factor has been the consolidation of brands such as BLESS Collection Hotels, with hotels in Madrid and Ibiza.

Destinations and Hotels: Occupancy Figures

In Europe, hotels in the Balearic Islands, Costa del Sol, Tenerife and Sicily achieved combined, average occupancy figures of around 73% throughout the summer season.

In the Americas, Mexico stands out with constant occupancy levels of above 70%. The annual accumulated occupancy figure for resorts located in the Riviera Maya, Costa Mujeres and Riviera Nayarit is between 72% and 76%. Punta Cana, meanwhile, remains above 65% and is expected to reach 67% cumulative annual occupancy. Lastly, Brazil and Jamaica have occupancy rates of around 70%, and are expected to remain at these levels. It should be noted that growth in the first quarter of the year was slowed due to the “Omicron” coronavirus variant.

New Openings in Spain: Key to this Summer’s Positive Performance

Without a doubt, this has been one of the most exciting seasons for our group. Not only because of the return to normality, but also because of the opening of two new hotels in Spain, in which we have placed a great deal of hope and trust: TRS Ibiza Hotel and Hard Rock Hotel Marbella. These are two destinations that have proven to be of tremendous quality and are recognized both nationally and internationally. Sergio Zertuche, Chief Sales & Marketing Officer of Palladium Hotel Group

TRS Ibiza Hotel is the first TRS Hotels-branded property to open in Europe, following the brand’s success in the Caribbean. It is a unique resort combining all-inclusive luxury service with an adults-only policy – a first for Ibiza.

Hard Rock Hotel Marbella, located in Puerto Banús, and the third of the Hard Rock Hotels franchise managed by Palladium Hotel Group, has celebrated its first summer. The hotel’s great start replicates the success of its predecessors in Ibiza and Tenerife. The unique entertainment concept of this new establishment complements the hotel’s curated service, gastronomy and event offering. Sergio Zertuche says: "We are certain that Hard Rock Hotel Marbella will become a meeting point not only for international travellers but also for locals in Marbella".

Recovery of International Markets and the MICE Sector

A general recovery of all markets has been evident throughout the season. According to Sergio Zertuche, Chief Sales & Marketing Officer of Palladium Hotel Group: "International tourists have made a strong return, particularly to the Spanish islands. Markets such as the United Kingdom, Germany, France and Belgium are responding very well, and we have also seen a very positive share of American travellers staying at our European hotels." The German and UK markets have both recovered to 2019 levels. The third most important market has been Spain.

The recovery of the MICE sector also stands out, especially in Madrid and Ibiza, where it has exceeded 2019 levels by over 50%. This is due to "the pent-up demand of 2020 and 2021. Looking ahead to the last part of the year, demand is more contained, although the positive trend will continue." The distribution by source markets is led by Spain, the UK and Germany, all on a fairly similar footing. This is followed by France, Switzerland and Italy. Borja Martinez Junquera, Regional MICE Senior Manager Europe

Eyes set on the Caribbean for the Winter Season

Many of the hotels in Palladium Hotel Group's portfolio in Spain still have a promising autumn/winter season ahead of them - particularly Hard Rock Hotel Tenerife, where last-minute bookings by Spanish guests are expected, and the group's urban hotels, which are expected to benefit from the recovery of business tourism. The Caribbean region, however, is where expectations are high for the coming months.

Sergio Zertuche, Chief Sales & Marketing Officer of Palladium Hotel Group, commented: "So far this year, the occupancy figures at our hotels in the Caribbean have been pleasing, and the winter and Christmas seasons are looking good. We are happy with the development".

Palladium Hotel Group's recent alliance with Wyndham Hotels & Resorts is an important milestone that will strengthen the distribution capacity of Palladium’s Caribbean hotels in two priority markets: the United States and Canada. Wyndham Hotels & Resorts is the largest hotel franchise company in the world, with the greatest distribution capacity in the United States. Thanks to this agreement, 14 hotels from the Grand Palladium Hotels & Resorts and TRS Hotels brands, located in Mexico, the Dominican Republic, Jamaica and Brazil, have become part of Wyndham’s Registry Collection Hotels luxury brand.

Another important milestone in the Americas will be the renovation of Grand Palladium Jamaica Resort & Spa, which will be completed by the end of 2022.

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