Automatic

🏨 Summum Hotel Group expanded by four establishments with 250 rooms in the past year and plans to add five establishments with 420 rooms this year, and seven with 510 rooms by 2026. Vértice Hoteles and Thius Hotels & Homes are following closely with multiple openings scheduled from 2024 to 2026. The expansion mostly focuses on Spain, with a few chains like SmartRental Group also growing internationally in Portugal, Austria, Switzerland, Bulgaria, and Greece. Portugal remains the top choice for international growth among smaller chains.

🏨 Palladium Hotel Group will invest 650 million euros in the next three years for hotel repositioning and expansion, targeting the four main tourism hubs: Caribbean, Mediterranean, Middle East, and Southeast Asia. They plan to open their first urban hotel in Mexico City and have signed an agreement to expand the Hard Rock Hotels brand in Saudi Arabia. The expansion includes branded residences with The Unexpected and Bless brands. The Unexpected Al Marjan Island will feature 422 units between residential use and hotel rooms. Palladium focuses on asset-light strategies and has formed a commercial alliance with Wyndham Hotels & Resorts, mainly targeting American customers. They intend to grow their brands across Europe, America, and the Middle East, with interest in Vietnam, Indonesia, Thailand, and Singapore.