Automatic

🏨 The Piñero family, owners of Grupo Piñero, have started a new hotel project in Palma's El Terreno neighborhood, where they've been for 40 years. They aim to open the urban hotel between late 2025 and early 2026. The construction includes two buildings at 73 and 75 Joan Miró Street; one, dating back to 1932 by architect Francesc Casas Llompart, will be refurbished, and the other will be a new sustainable building with LEED and Passivhaus energy efficiency certifications. The hotel will offer 40 rooms, 20 in each building, and obtained a construction license in early 2022 for a 4-star hotel. The project emphasizes local talent and suppliers from Mallorca and will include spaces showcasing local artisans, artists, and designers to revitalize the neighborhood with cultural and gastronomic activities.

🏨 Grupo Inversor Hesperia (GIHSA) reported a revenue of €165 million in 2023, a 22% increase from 2022's €135.5 million. Pre-pandemic (2019) revenue was €137 million. After-tax profit stood at €4 million. In the first half of 2024, sales reached €88 million, marking another 22% increase. ADR rose to €153, surpassing the previous year’s €130, and RevPar grew by 29%. Net assets totaled €400 million, with asset values reaching €859 million. CEO Jordi Ferrer highlighted the company’s strong business model and growth. Renovations have been completed on several properties, and expansion includes entering Andorra and Valencia markets. A luxury hotel tower project in Málaga port is underway, set to elevate the city’s status.