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Palladium to invest 450 million in expansion until 2018 The CEO of Palladium, Abel Matutes. (Juan Lázaro) Palladium, the hotel group controlled by the Matutes family, plans to invest more than 450 million euros in new openings and reforms of its current establishments, both in Spain and the Caribbean. Should You Do Fasting Exercise? Should you eat before you train? The answer might surprise you. The hotel chain, which closed 2016 with a turnover of 558 million, 14% more than a year earlier says it has completed a good year and is optimistic about the behavior in the holiday market for Spain this year, especially in the Balearic Islands, where Has greater weight. Abel Matutes Prats, CEO of the company, says that the strategy of growth by number of hotels now passes through the management of establishments owned by third parties. “We are already prepared to grow a lot in urban and vacation through management,” he says. The company, which has an agreement with Hard Rock to bring the hotel bill to Spain and already has two establishments, one in Ibiza and another in Tenerife, recognizes that they have on the table some more but not closed project. At the time Hard Rock was mentioned as the best positioned to manage the hotel of the Edificio España de Madrid. “There are a couple of hotels in the pipeline but nothing is decided yet,” says Matutes Prats, who defends his alliance as “a well-matched marriage”, who prefers to take care of his latest novelty, the Tenerife opening, without ruling out his Interest in urban destinations. The businessman stands out for the arrival of Palladium to Asia. “Someday we have to jump, but right now it’s not in our plans. When we go, it will be to do something big, “he explains.
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