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January 25, 2022

Palladium Hotel Group predicts to surpass 2019 revenue this year

· The Spanish group’s newest property TRS Ibiza Hotel will open its doors in the coming months.

· Construction on Only YOU Hotels’ fifth establishment, in Seville, will begin in 2022.

· The group has strengthened BLESS Hotel Madrid as a luxury reference point in the Spanish capital.

· In pursuit of sustainability, the company has announced that 100% of energy consumed by its Spanish hotels comes from renewable sources, and it is committed to reaching 50% at a global level in 2022.

Madrid, 20th January 2022. Palladium Hotel Group has announced its news for 2022 at the Spanish travel trade show FITUR, including further details of its highly-anticipated opening of TRS Ibiza Hotel.

At the event, the President of Palladium Hotel Group, Abel Matutes Prats, and the company’s CEO, Jesús Sobrino, weighed up the last year, in which some of the group’s important projects have come to fruition. This includes two hotels in Sicily: Grand Palladium Sicilia Resort & Spa and Grand Palladium Garden Beach Resort & Spa; as well as Palladium Hotel Menorca and the new Only YOU Hotels in Valencia and Málaga. Furthermore, the reopened BLESS Hotel Madrid remains under the management of Palladium Hotel Group after the acquisition of the property by RLH Properties – the most important sale in Spain last year in terms of the room rate.

The company closed in 2021 with a turnover of 445 million euros, 131% higher than in 2020 and 40% lower than in 2019. It expects to surpass 2019’s revenue this year as a result of recent project launches. These include the BLESS Collection Hotel brand, the repositioning of some European hotels and the natural evolution of the rest of the hotels managed in the Caribbean.

In addition, the company has strengthened its direct sales strategies in recent years, reaching a 24% market share in 2021 – 70% more than in 2019. Despite a tax year with 40% less turnover than 2019, sales through this channel have increased. Palladium Hotel Group has been very satisfied with the reception of Palladium Rewards, the company’s loyalty programme, whose affiliated clients have generated 67% of direct channel sales volume.

Furthermore, the Group’s President and CEO assessed their primary role as hotel managers. The President of Palladium Hotel Group, Abel Matutes Prats, explained that “the company’s efficient change of structure has generated much more value by dedicating a great team exclusively to hotel management, and not other aspects in which Grupo Empresas Matutes is present. The results have been more than satisfactory for shareholders, myself among them, which we are very pleased about”.

Palladium Hotel Group’s CEO, Jesús Sobrino, expressed that “after more than 50 years of experience in the sector, we have focused on our managerial role. We are very pleased with our brand positioning and our future, having worked so hard during the quiet period on transforming our management model towards a more efficient, trustworthy, and digital one. We are advocating clear product differentiation and excellence, which will translate into good results and a promising future”. Speaking about BLESS Hotel Madrid, he explained that they “have continued consolidating the brand and establishing [themselves] as a reference point in Madrid, with a USP of hedonistic luxury and an attractive gastronomic and leisure offering, positioning us as Madrid’s most fun luxury hotel”.

2022 News: TRS Ibiza Hotel and Only YOU Hotels

The group has announced the inauguration of TRS Ibiza Hotel this year, the first in Europe from luxury brand TRS Hotels. Located in Cala Gració, an area known for its exceptional sunsets, the five-star hotel will house 378 exclusive guestrooms and suites. TRS Ibiza Hotel is introducing TRS Select club, innovative addition to its luxury all-inclusive concept, which includes a broad gastronomic and leisure offering through agreements with exclusive third-party restaurants in Ibiza. Furthermore, the new TRS Ibiza Hotel will offer guests an exclusive butler service focused on personalising the client experience.

This year TRS Ibiza Hotel has been recognised by the ReThink Hotel competition, awarded annually by Habitat Futura to the 10 best sustainability and hotel renovation projects in Spain.

In terms of growth and investment in product development, Palladium Hotel Group will carry out important alterations to its Jamaican hotels and Grand Palladium Palace Ibiza Resort & Spa. Equally, the group intends to continue adding new establishments to the Only YOU Hotel chain, through its joint venture with El Corte Inglés. This year renovation works are expected to begin on what will be the brand’s fifth hotel, Only YOU Hotel Sevilla, whilst continuing to consider options in other exceptional city locations, in both Spain and other countries.


After two years focused on reformulating its value proposition, Palladium Hotel Group is now resuming expansion plans, and to this end is assessing different markets suitable for each of its brands in the premium and luxury segments.


The group remains strongly committed to the circular economy, environment and community. It has announced that 100% of the energy consumed in its Spanish hotels, and nearly 20% of its global consumption, comes from renewable sources, whether that be through guarantees of the origin or use of solar panels. Furthermore, it is committed to continuing investment until reaching 50% of its total.

global energy consumption in its hotels is of renewable origin. In the interest of achieving this, all of Palladium Hotel Group’s hotels located in Playa d’en Bossa: Ushuaïa Ibiza Beach Hotel, Hard Rock Hotel Ibiza, Grand Palladium Palace Ibiza Resort & Spa and Grand Palladium White Island Resort & Spa, will install solar panels before the summer season begins.

Top Employer

Furthermore, Palladium Hotel Group has received the Top Employer certification at FITUR for the second consecutive year in Spain, Mexico, the Dominican Republic, Brazil and Jamaica. This recognises the company’s work to create a stimulating work environment, develop talent and leverage the wellbeing of its collaborators to positively impact the business.

W: Palladium Hotel Group

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