Matutes To Expand Hotel Only You In Madrid

28 January 2015 – Expansión

Palladium, the hotel chain owned by the former minister and businessman Abel Matutes is strengthening its commitment to Madrid by expanding its Hotel Only You. The success of the boutique hotel, which opened its doors in 2013 and is located in Calle Barquillo, has encouraged the company to lease the adjoining building, which will allow it to add 50 rooms taking hotel’s capacity to 125 rooms in total; nine of these will be suites.

In 2014, Palladium recorded turnover of €429 million, an increase of 10% on the previous year. The hotel chain, which brings together 50 hotels and 14,000 rooms, will invest €80 million in three hotel projects this year, covering 1,280 rooms. In May, it will open the Grand Palladium White Island Resort & Spa in Ibiza. This will be followed by the opening of two new hotels between 2015 and 2016: one under the Ayre brand in Madrid, opposite the Atocha train station and the other, the Hard Rock Hotel in Tenerife.

Original story: Expansión (by Y. Blanco)

Translation: Carmel Drake