Palladium Hotel Group, hotel manager Matutes family, Scaling to the industry elite in Spain. Last year, the company entered the exclusive club of national hotel groups that issue more than 200 invoices. 1 billion eurosso far only Riu, Meliá, Barceló, NH Hotel Group and Hotusa.
Founded a little more than half a century ago by former minister and former European commissioner Abel Matutes and currently headed by his son Abel, the hotel group achieved a turnover of 1 billion 69 million euros last year with the hotels under its management, an increase of 16% compared to the previous year. year (948 million), and 2019 is 42% above the pre-pandemic period, as the group announced in the framework of the Madrid International Tourism Fair (Fitur).
“This is a very significant growth because we achieved this without actually expanding our hotel factory. “The number of rooms has increased very slightly, so revenue is increasing due to increased occupancy and higher prices,” he explains. Jesús Sobrino, CEO of Palladium. The group manages a total of 41 hotels with 13,000 rooms and last year acquired a property with just 140 rooms. “We are a perfect example of the formula against the massification of tourism. In hotels, we grow in results without doing this in practice. This is the formula: more prices without the need to increase the number of customers.”
american dream
Palladium arrived in the United States last year and did so with great success: Entering New York, A few meters from Times Square and with a hotel owned by Ferrado Hotels, a company controlled by the investment vehicle of Sandra Ortega (daughter of Amancio Ortega). The organization will continue its activities under a temporary brand for another 2-3 years, but its medium-term goal is to operate under the Only You brand.
Just you It is the group’s brand for urban destinations and is now owned exclusively by Matutes, after acquiring the 50% previously owned by El Corte Inglés. The company plans to make Only You a bellwether for its growth in the United States market, where it is currently looking for opportunities to add hotels in Chicago, Boston, Los Angeles and Miami. Only You will open its sixth hotel in Spain this year with the addition of the Seville location, and will add its first international hotel in Venice in 2025. Additionally, the company is working to open the first Only You hotel in Ibiza for the holiday segment.
Palladium’s CEO admits that the company is actively looking for projects to expand, both by taking on management of hotels in Spain (focusing on Mallorca, Canary Islands, Costa del Sol) and aspiring to return to Barcelona. Ayre brand is not available since the sale of hotels) and abroad. International expansion is intended to include growth in the United States, Mexico, Latin America (with particular attention to Buenos Aires) and the Middle East (particularly Saudi Arabia and the Emirates).
The company was founded by Abel Matutes more than half a century ago. Party Group Now he is preparing to put an end to that historical banner. Only one hotel of the original brand remains in operation in the Dominican Republic, but the company has confirmed its intention to fully renovate the property and reopen it under a new trademark from among those operated by the group, preferably the Only You or brand. luxury bless.
In 2020, the Matutes Group transferred the ownership and management of the organizations, which were in the hands of the family holding company headed by Matutes Sr., to the management of Matutes Junior. Palladium manages the Matutes hotels (85% of the current portfolio) and other owners. “We want to balance these rates and encourage the operation of third-party hotels rather than relying solely on establishments from the Matutes family,” says Sobrino.