Palladium Hotel Group has launched a new luxury sub-brand to its portfolio, named Grand Palladium Select Collection. The group has revealed its first hotel under the brand will open in Costa Mujeres, Mexico in January 2025.
The rebranded Grand Palladium Select Costa Mujeres will then be joined by a second property in Ibiza during the summer season. A third property, Grand Palladium Select Bávaro in Punta Cana will launch in December 2025. All of the properties selected for an upgrade to the brand will feature great beaches, and the finest in culinary offerings, as well as the top drawer guest entertainment that Palladium is already well known for.
Delivering a strong 2024 performance
The group saw a strong performance from its hotels through summer 2024, reporting a 14% increase in revpar at its European properties, while Caribbean resorts saw a 5% uplift. Forecasting a strong finish to the year, full year 2024 revpar is expected to be up around 13% year on year in the Caribbean and Americas, and up 5% in the Canary Islands. Notably, guests are booking longer stays, as leisure and work blends.
Group revenues are expected to beat last year’s record of EUR1.069bn. Palladium reported its Grand Palladium Sicilia Resort & Spa in Italy as a top performer, with a 15% increase in revpar. It says that guests from the UK are the key source market for its European resorts, accounting for 27% of all arrivals, and 28% specifically in the Balearics. In Tenerife, that percentage is as high at 62%.
Palladium’s resorts in the Caribbean and Americas primarily serve US guests, who account for 24% of arrivals. Despite the longer travel time, the UK remains the second source market, accounting for 12% of guests.
“We are very pleased with the results achieved this summer season,” said Sergio Zertuche, chief sales & marketing officer at Palladium Hotel Group. “We overcame the slowdown in summer travel in the Caribbean and Americas and a slight decrease in demand in Europe due to the Euros and Olympic Games.”
The Select Collection sits at the top of a three tier offering under the Grand Palladium banner. Guest alternatives are the Family Selection, and Signature Level.
Family Selection, currently on offer at three resorts with a fourth in preparation, are designed to put children first and featuring entertainment and butler services designed around the family. Signature Level, currently available in Brazil, Ibiza, Jamaica and Sicily, provides guests with a personalised stay experience featuring exclusive amenities and benefits tailored to their desires.
Building from a broad base
Currently, Palladium operates more than 40 hotels with over 13,000 rooms, across eight countries. As well as its home Spanish market, the company also has European resorts in Italy. It is present in the UAE, and in the Americas has resorts in the USA, Mexico, Dominican Republic, Brazil and Jamaica.
As well as its Grand Palladium offerings, the group also runs hotels under a range of other brands, including TRS Hotels, Palladium Hotels, Fiesta Hotels & Resorts, Ushuaïa Unexpected Hotels, The Unexpected Hotels & Residences, Only YOU Hotels, and BLESS Collection Hotels. In addition, the company operates three Hard Rock hotels under licence in Ibiza, Marbella and Tenerife.
