Palladium Hotel Group closed summer 2023 with “very positive” figures

Palladium Hotel Group’s hotels in Spain recorded an average occupancy rate of 83% in the central summer months (July to September), accompanied by a RevPar increase of 6% compared to the same period in 2022.

In the Americas, average occupancies have shown slight percentage increases compared to the previous year, with an average of 71%.

Globally, the cumulative annual occupancy rate stood at 74%, while the cumulative increase (January to September 2023) in RevPar was 12% compared to the same period of the previous year.

In 2023, the United Kingdom continues to be the main global outbound market to the different destinations where Palladium Hotel Group is present, representing 22% of the total number of visitors to the hotels operated by the company.

The United Kingdom is followed by the United States, which accounts for 17%, while Spain and Germany are the third most important outbound markets, with 8% each.

Likewise, the company foresees a similar autumn and winter for the rest of its hotels in Tenerife, Costa del Sol, Madrid, Valencia and the Caribbean, thus consolidating the forecast established at Fitur of exceeding the 1,000 million euro barrier in terms of annual business volume.

The strong commitment to refurbishments and renovations in existing hotels has been key to achieving the goal of exceeding 1,000 million euros in business volume managed.

Source: Arecoa

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