Palladium to double hotel count in Jamaica


 Palladium Hotel Group, the hotel company of the Matutes Group of Companies, says two new hotels are being planned for Jamaica as part of an ambitious global expansion plan. Investment for the group, Jamaica included is 650 million euros over the next three years.

This will bring to four the number of Palladium properties in the island. The company has two hotels in Western Jamaica: the Grand Palladium Jamaica Resort & Spa and the Grand Palladium Lady Hamilton Resort.

The news source the Voice of Ibiza reported on January 26, 2025, that the disclosure was made during it FITUR 2025.  Fitur is a tourism trade fair for inbound and outbound international markets and was held from January 22 to 26 in Spain.

Palladium said that 350 million euros of the investment amount will be earmarked for the construction of these two properties in Jamaica, while the rest will finance projects in other key destinations, such as Asia, the Mediterranean and the consolidation of The Unexpected Hotels brand.

Meanwhile, Palladium Hotel Group indicated that in 2024 it achieving a turnover under management of more than 1,200 million euros, which represents an increase of 12 per cent compared to the previous year.

The group has also recorded a 10 per cent increase in RevPAR (revenue per available room), driven by a 3 per cent growth in occupancy and 7 per cent growth in the average price.

Abel Matutes Prats, president of Palladium Hotel Group, announced that the two new hotels in Jamaica, belonging to the Gran Palladium Select and Family Selection brands, will add close to 1,000 rooms to the island’s offer.

“The Grand Palladium Select will be aimed at guests seeking exclusivity, with private areas, a pool concierge service and premium gastronomy. It will also offer the Family Selection service, a catalog of VIP services designed for families, including specific facilities and activities adapted to all ages. The second hotel planned by Palladium on the island will be a TRS, known for its luxury and privacy,” it was stated.

“This investment is a strategic bet not only for Jamaica, but also for the global growth of the group. We want to offer unique experiences in the world’s most attractive destinations,” said the Group head.

Palladium says it offers hotel training for more than 600 people per year through its six training centers on the island.

With construction scheduled to begin in 2025, the hotels are projected to be ready for opening by the end of 2026.

Photo: Grand Palladium in Lucea Hanover

Caribbean Money Daily

Caribbeanmoney.blogspot.com

Follow us for breaking news

Contact: austanny@yahoo.com/ 1 876 727 3818


Comments

Post a Comment

Popular posts from this blog

Kintyre makes US$300,000 investment in Sevens Ice

Image
  Tyrone Wilson Chairman, President and CEO Kintyre Holdings (JA) Limited (KHL) and Seven Kingston Limited, owners of the Seven Ultra Lounge and Restaurant, on January 14 announced a joint venture to launch Sevens Ice. Kintyre Holdings has made an investment in excess of US$300,000 in acquiring an associate stake in Seven and also establishing the start-up for the ice venture. "This initiative addresses Jamaica’s growing demand for high-quality ice, with operations set to begin in Q1 2025," Wilson stated. Additionally, the venture has acquired a cold storage facility to manage its start-up capacity and is exploring the importation of ice to bridge the gap between demand and supply, ensuring a consistent and reliable market presence. Distribution Expansion Wilson said that Sevens Ice has secured a distribution point in Kingston and is in the process of setting up another in St. Catherine to serve the western and central parts of the island. This expansion will ensure broade...
Read more

BCMG increases risk management oversight: Launches surveys-as-a -service

Image
Insurance brokers in Jamaica often send underwriters themselves to survey risks; however, they frequently do not have the technical knowledge required to produce the best results. BCMG Insurance Brokers Limited (BCMG) in response, introduced - in support of the wider brokerage industry - an updated surveys-as-a service product which has been embraced by the wider community as groundbreaking. Senior Risk Manager on the New Business Team of BCMG David Lazarus explains, “We saw where the technical details and in-depth knowledge of the intricacies of business operations were not always being taken into consideration. This was seen as an opportunity to expand into this space.” In 2020, Billy Craig Insurance Brokers and Maritime General Insurance Brokers, MGI, signed an agreement to merge their operations to form BCMG Insurance Brokers Limited. Following the union, the new company has been exploring options to expand the service capability of the brokerage and increase value for clients...
Read more

Headhunting: The art of finding talent in a shrinking labour market

Image
KPMG, PricewaterhouseCoopers (PwC) and BDO -chartered accounting firms and business consultancies - are the main companies to which Jamaican corporates turn for headhunting services. However, there are also sole practitioners who are finding their feet in a climate in which human resource management and talent hunting is in big demand. Also known as an executive search, headhunting differs from traditional recruitment. It is used to hire high level employees such as CEOs. The work of headhunters is getting harder in Jamaica. Wilfred Baghaloo - Partner, Advisory Services - PwC Jamaica comments, “We simply do not have enough qualified persons to provide necessary services to our clients locally and internationally in the financial advisory space. I believe we have reached the point (maybe four years ago) where we need to rethink our working permit immigration plan /approach. “Allowing more immigration and work permits will help us in the financial advisory space and also the country...
Read more