Register to get 3 free articles
Register to unlock the article and receive our free newsletter. Join 26,000 other hotel leaders and stay in the know.
Want unlimited access? View Plans
Already have an account? Sign in
Palladium Hotel Group has reported a turnover of over €1.2bn (£1bn) in 2024 and is “anticipating a positive start to the summer season” for both occupancy and profitability. The group said it expects to double its RevPAR in the second quarter and estimates that it will exceed 90% occupancy in its holiday hotels located in Spain and Italy over the Easter period.
In Ibiza, where the group operates 10 hotels, this forecasted growth in RevPar is set to be accompanied by increases in occupancy and ADR compared to the previous year.
Meanwhile, in the rest of Palladium Hotel Group’s European destinations the improvement in RevPAR will be mainly driven by higher occupancy, according to the group.
British holidaymakers are set to contribute to the group’s positive forecasts for Easter, with the UK forming the primary market for the group’s European hotels, accounting for 27% of market share from May-October 2024 last season.
In the Balearic Islands, British tourists represented 28% of the total market last season, whilst in Tenerife, the British market share hit 62%.
According to Palladium Hotel Group, the season’s favourable forecasts are due to more favourable weather expected early in the season and greater frequency of flights to key destinations, due to the fact that this year Easter will be celebrated in mid-April, three weeks later than in 2024.
Given this context, the hotel management company is preparing to open its seasonal hotels throughout the month of April.
