Palladium Names New President & CEO As It Celebrates 50 Years

Bruce Parkinson, Open Jaw

CEO President Abel Matutes Prats (left), takes the helm from his father Abel Matutes Juan (centre). On the right is Jesús Sobrino, the company’s new CEO.

As it celebrates its 50th anniversary this year, Palladium Hotel Group has announced the appointment of a new President and a new CEO.

Abel Matutes Prats will be the new President and Jesús Sobrino will be the new CEO of Palladium Hotel Group. Carmen Matutes Prats will now hold Sobrino’s previous position of Deputy General Manager, while Abel Matutes Juan, Founder and President of the company since its inception, will maintain the presidency of the holding company Grupo Empresas Matutes, to which Palladium Hotel Group belongs.

Grupo Empresas Matutes says it is reforming its organizational structure to adapt to today’s model of separation between the management of real estate assets and the hotel operator.

The company chose Spain’s international tourism fair FITUR as the venue to present its news.  Company executives also celebrated 2019’s success, including a turnover that exceeds $1.1 billion dollars – 13% growth over the previous year.

In 2020 Palladium Hotel Group will continue to consolidate its expansion strategy with important openings. The first will be Palladium Hotel Menorca, a four-star AI hotel that will be one of the group's most ambitious projects in Spain.

Also, in the Mediterranean, specifically north of the Italian island of Sicily, Palladium Hotel Group will open Grand Palladium Garden Beach Resort & Spa & Grand Palladium Sicilia Resort & Spa with Azora as a strategic partner. 

With these new openings planned for the summer, Palladium Hotel Group continues positioning itself as a luxury accommodation brand in the Mediterranean in addition to reinforcing its commitment to the improvement of its products and services with the expansion of two of its most important brands: Grand Palladium Hotels & Resorts and Palladium Hotels.

Towards the end of the year, the group is planning to open the urban brand Only YOU Hotels, so far only present in Madrid, in Malaga and Valencia; as well as expanding its TRS Hotels brand, which will debut in Ibiza in 2021 after succeeding in the Caribbean.

Palladium says 2019 was one of the most important years in the company’s history. The group prioritized its expansion with new openings and brands, and consolidated its business model based on hotel management and operation with external partners and investment funds.

One of the year’s main milestones was the launch of the Bless Collection Hotels brand and its pioneering concept of “hedonistic luxury.” The company positioned itself as in the Spanish luxury hotel sector with Bless Hotel Madrid and Bless Hotel IbizaPalladium Hotel Costa del Sol marked the arrival of the Palladium Hotels brand for the first time in Malaga and in the important region of Costa del Sol.

Another highlight for the hotel group in 2019 was the celebration of the new Grand Palladium Costa Mujeres Resort & Spa and TRS Coral Hotel in the new destination of Costa Mujeres, north of Cancun, turning the resort into one of the trendiest places in the Mexican Caribbean.

The story of Palladium Hotel Group’s success goes back to the end of the 1960s, when Abel Matutes Juan decided to enter the hotel business with the aim of creating quality accommodations and offering the best service and unique experiences for travellers. 

His first steps began in the Balearic Islands with the opening of two hotels in Ibiza and the creation of Fiesta Hotels & Resorts. The group kept growing in the Balearic and Canary Islands before expanding into the Caribbean in the 1990s, followed by new destinations such as Italy, Mexico and Brazil at the arrival of the new century. 

Thanks to both the renovation and modernization of its accommodations and brands, and its dedication to innovation, Palladium Hotel Group now has 48 properties, more than 14,000 rooms, nearly 14,000 employees and ten brands with hotels in six countries: Spain, Italy, Mexico, Dominican Republic, Jamaica and Brazil.

Bruce Parkinson

Bruce Parkinson Editor-in-Chief

An observer and analyst of the Canadian and international travel industries for over 25 years, Bruce uses the pre-dawn hours to prepare a daily news and information package to keep industry members up to date.

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