Palladium's Balearic hotel room rates rise 5%

Balearic Islands, Spain: Palladium Hotel Group reports a 5% rise in its average daily room rate for summer 2026. The company released the figure on 13 October as it forecast 9% growth in its Spanish market by the season’s end. At its hotels in Tenerife, the average daily rate is up 4%.

Spain is now Palladium’s second-largest European source market after the United Kingdom. Spanish guests account for 10% of the group’s business at its hotels in Spain.

Palladium credits the gains to repositioning key properties. On Ibiza, it has invested more than 90 million euros in The Site Ibiza, a complex bringing together luxury hotels, shops and restaurants.

The group expects a positive final quarter. Its European summer properties will close in stages by the end of October, while its luxury city hotels, including the recently opened BLESS Barcelona, are expected to contribute to the result.

Topics: Economy

Source: Europa Press / Mallorca.com