Soaring property and land prices in Mallorca will be music to the ears of British billionaires David and Simon Reuben, who are among Mallorca’s largest landowners. Their Mallorcan operations are located in Manacor, Capedera, Betlem, Andratx and Pollensa. In fact, they have seized about 13 kilometers of the coastline of Mallorca.
Half a million euros is the minimum investment.
The College of Registrars revealed last week that foreign purchases of homes in the Balearic Islands in 2022 had reached a record level – 6,133 purchases. These were people from other European countries and further afield, some of whom had the so-called Golden Visa, the residence permit for non-European citizens that is processed in 20 days for an expense of half a million euros and more.
The island of Mallorca presented at the
International Luxury Travel Market
(ILTM) in Cannes, considered the most important luxury trade fair in the world, the main values of the island to become the
luxury destination in the Mediterranean
for this year 2023.
The island’s Minister of Tourism, Andreu Serra, emphasizes: “We have become a reference destination in this segment of the tourism market, since the island has everything in terms of luxury hotel services, gastronomy, sports, culture and complementary. Serra adds that at ILTM “we have seen an increase in bookings for this year, much higher than competing destinations in the Mediterranean. This is due to the effort of the private sector, which is strongly committed to offering the best quality and to attracting, but above all to retaining and consolidating, this segment of vacations.
The Consell highlighted the importance of the boutique hotels in Palma, the offer of agrotourism, the iconic five-star hotels and the 11 Michelin-starred restaurants, and how “this has allowed to conquer a greater market share in one year for another”. Serra also points out: “Luxury tourism is outside the fluctuations of the economy, such as inflation, and seeks quality, maximum exclusivity and differentiating products. Mallorca has been able to adapt to this demand and now we are positioned and in a leading position.
From the Essentially Mallorca association In a report published by the Association for the Development of Tourism, which groups together the island’s luxury tourist establishments and offers, they explain that the 2022 balance sheet “could not have been more optimal in terms of hotel occupancy throughout the year and the demand for luxury services for part of the international and Spanish tourism.
Looking ahead to 2023, after the Cannes ILTM, they say, “It’s still early, but the outlook is very positive for luxury tourism. Bookings are going very well and those made at the last minute (last minute) will have to be added, as happened in 2022”. They add that “our customer has elastic demand and price changes do not affect it, nor does uncertainty.”
From Essentially Mallorca, they point out that the increase in demand for luxury “explains the positive evolution at Palma airport, mainly in private jet traffic. This is proof that this niche market has opted for the Island, both before the pandemic, during the pandemic and now in the post-pandemic, because it is a safe destination and with infrastructure in line with those required by this very exclusive tourist market. “
The Mallorcan hotel management, as well as CAEB Restoration, Abone and the fashion store Casc Antic de Palma, say that this type of tourism has a very important economic impact on the entire tourism production fabric of the island. The fact that Mallorca has strengthened its position in high-end tourism, according to the private sector, has caused a reaction from competing destinations “but the demand remains faithful to us when checking what can be found in Mallorca.
Another factor in which the Consell, through the Fundació Mallorca Turisme, and Essentially Mallorca have an impact is the rebound effect that the direct flight between New York-Newark and Palma has had. Andreu Serra, in this regard, considers that “this flight has helped to influence high-end North American tourism, as seen in the boutique hotels in Palma this summer.
Three of the most beautiful villages in Spain, in Majorca
The Association of the Most Beautiful Cities in Spain has launched a new website and mobile application to promote the “great natural wealth and heritage” of its 111 cities,” among them Alcúdia, Fornalutx and Pollença, representing the islands
Balearic Islands
. With these two projects, one of which is the development of a new mobile application called “Village Map”, the aim is to bring the communes of the national network “much closer” to visitors, both national and international, so that they can learn about the natural and heritage riches of the rural world and better prepare their trips to these places.
The direct flight Palma – New York returns at the end of May, as confirmed by United Airlines. Specifically, they will resume on May 26 and continue until September 27. Flights will be operated from Son Sant Joan de Palma airport on Mondays, Wednesdays and Fridays of each week of the above-mentioned period; departure will be at 11:00 am. Departures from Newark Liberty International Airport will be on Tuesdays, Thursdays and Sundays at 7pm. This airfield is located between the cities of Newark and Elizabeth in the northern part of the state of New Jersey, 24 kilometers from New York.
The group that owns the Ritz in Madrid will make its debut on the island with the hotel on the Costa d’en Blanes – A Estudio Lamela, which rehabilitates the Four Seasons Formentor, and the firm HKS, joined Laura Gonzalez, a reference in design for the exclusive companies
What was already an open secret has finally become official: the luxury with Asian roots arrives in Mallorca thanks to the Mandarin Oriental Hotel Group, the owners of the Ritz in Madrid will make their debut on the island, “in one of the most coveted places”, with the management of the H10 Punta Negra until last summer. The Hong Kong group and Blassom Property Investments, the investment fund that bought the hotel from the Blanes family, are advancing what will be the historic complex on the Costa d’en Blanes, Calvià, called Mandarin Oriental Hotel Punta Negra. Its opening is planned for the summer of 2024.
The Asian company, owner and operator of luxury hotels, residences and resorts, which combines “oriental heritage, local culture and unique design”, and the investment company with real estate projects in Spain and Portugal have formalized their agreement through a statement. in which they reveal in part what the new Punta Negra will look like after the reconstruction and redesign of the complex that between 2003 and the 2022 season operated as the four-star H10 Punta Negra Boutique Hotel. The work is already underway and the total investment, with the purchase of the property and its repositioning, Blassom puts the figure at 200 million.
With its transformation into a luxury resort, it reduces the number of rooms, as Blasson had already suggested in this newspaper, to increase its size. It will have 131 rooms including 44 suites and nine bungalows located on the beachfront. They will have full or partial coastal views, outdoor terraces or balconies, and private deep panoramic pools.
The Punta Negra reform takes advantage of the 8/2020 decree that allows hotel expansions up to 15%, to modernize facilities, and was approved by the government during the pandemic crisis.
When it opened in 1966, it had two floors, 45 rooms and 9 bungalows surrounded by pine trees.
The commitment to gastronomy will be another of the attributes of the Mandarin Oriental Punta Negra. It will offer “a variety of local and international restaurants”, and will become “a perfect destination for locals and visitors”. It will also be used to organize indoor and outdoor events, also with the aim of enjoying the attraction of Mallorca for the celebration of weddings, enjoying the garden that surrounds the complex.
The oriental style that characterizes the hotel group will be complemented by the resort ‘s exclusive spa, with an indoor pool, which will offer the therapies and treatments characteristic of the hotel group, “with an approach inspired by local nature”.
There will be three additional pools throughout the resort and guests will have access to water sports and a kids club.
The Mandarin Oriental Hotel Punta Negra highlights in this first presentation the “natural beauty” that surrounds the complex which extends “over 3 hectares of cliffs and landscaped gardens that cascade towards the sea, offering unique access to two coves surrounded by crystal clear waters”, in addition to its “ideal location” in Calvià, “one of the most exclusive municipalities” of Mallorca and its proximity to Puerto Portals, the historical monuments of Palma and the airport.
The “contemporary” reconstruction and redesign of the complex is being carried out by HKS, an American firm, and the architectural studio Estudio Lamela – which is also involved in the remodeling of the Four Seasons Formentor and is distinguished by its “strong sustainability credentials”. – .
The interior design, with “many local cultural references,” is supervised by Laura Gonzalez, the Spanish-born Parisian (hence her unaccented last name) who has left her mark on hotels such as the Saint James Paris, restaurants and luxury boutiques. including Cartier. Gonzalez, who trained at the Paris-Malaquais School of Architecture, has been named Designer of the Year 2019 by Maison&Objet, a French trade show that stands out among the most relevant at the European level in the sector.
“We are thrilled with this opportunity to bring the legendary Mandarin Oriental service to this extraordinary Balearic resort ,” said James Riley, CEO of the Mandarin Oriental Hotel Group. Regarding his collaboration with Blasson in Punta Negra, he emphasizes that they will develop “a luxury hotel whose design and construction are based on a strong spirit of sustainability.”
The Mandarin Oriental Punta Negra becomes the third hotel of the Asian group in Spain, where it owns the Mandarin Oriental Ritz, in Madrid, and the Mandarin Oriental Barcelona, on Passeig de Gràcia. “We are excited to expand Mandarin Oriental’s presence to another major entertainment destination in Europe,” says Riley. The Hong Kong-based group will also open Mandarin Cosa Navarino in Greece next summer.
“We are thrilled to partner with one of the most prestigious brands in luxury hospitality on this exciting project,” said Francisco J. Meliá, of Blasson. The Punta Negra, scheduled to open in the second half of 2024, will allow its “visitors to enjoy the legendary Mandarin Oriental service.” Meliá, responsible for the company’s business management and in charge of investor relations, believes that it is “a unique opportunity to create a new hotel with such an exceptionally emblematic location” as Punta Negra on the Costa d’ in Blanes.
Blasson is also behind the Kimpton Aysla Mallorca, in Santa Ponça, which opened last summer and which they manage. The 79-room property marked the entry of the InterContinental Hotel Group (IHG ) into the island with Kimpton, its boutique hotel brand.
IHG has also been in the news recently for its alliance with Iberostar .The Mallorcan company has joined the global hotel giant’s brands.
The all-inclusive luxury Ikos Porto Petro.
The tourism strategy agency Aetib of the Balearic Islands government is promoting the opening of six new luxury hotels in 2023.
Two of them are located in Formentera – the Teranka hotel near Migjorn beach and the Can Miquelet hotel in the Ses Salines natural park.
The other four are in Mallorca. The Cappucino Hotel in Puerto Andratx will be the second on the island; there is already one in Plaça Cort de Palma. The hotel
Ikos Porto Petro
marks the entrance to Mallorca of the Greek chain Ikos, which specializes in all-inclusive luxury hotels. It will open, according to the agency, in April and will have a total of 319 rooms. Going back in time, this complex was once the only Club Med hotel in Majorca.
The Virgin Limited group of Richard Branson should open the
Son Bunyola Hotel
in Banyalbufar in June, then there is also the hotel Formentor in Pollensa.
The agency drew attention to these “openings”, but the Teranka has already opened (it was once a hostel), while an opening for the Formentor hotel next year is somewhat optimistic. The original intention was for the hotel to reopen in June 2023, but it is believed that the opening will be delayed until April 2024.
The largest of Spain’s Balearic Islands, Mallorca is also one of the most popular destinations for tourists. Now, for the first time ever, Americans will be able to fly directly from the United States to the Spanish island.
United Airlines has launched its non-stop service from Newark (EWR) to Palma de Mallorca (PMI). The airline will serve this route three times a week with its Boeing 767-300 aircraft carrying up to 204 passengers.
Until now, Americans departing from the United States were not able to fly directly to the popular island, often resulting in long trips that included stopovers in major Spanish cities such as Barcelona and Madrid.
In 2019, nearly 30,000 people flew indirectly to Mallorca via New York. It is one of the most underserved destinations in New York without nonstop flights, which finally prompted United Airlines to act and integrate the new seasonal route into its extensive network.
Palma is the largest city of the Balearic Islands group in Spain, comparable to islands like Ibiza, Formentera and Menorca. Palma de Mallorca may in fact be even more popular than any other island in Spain and an extremely popular destination in Europe.
In 2019, nearly 30,000 people flew indirectly to Mallorca via New York. It is one of the most underserved destinations in New York without nonstop flights, which finally prompted United Airlines to act and integrate the new seasonal route into its extensive network.
Palma is the largest city of the Balearic Islands group in Spain, comparable to islands like Ibiza, Formentera and Menorca. Palma de Mallorca may in fact be even more popular than any other island in Spain and an extremely popular destination in Europe.
A non-stop flight to Palma de Mallorca this summer doesn’t have to be too expensive either if you know when to travel.
For a cheap flight to Mallorca via Newark, you’ll want to look for mid-September dates.
Airfare for this itinerary during the high season (July and August) is approximately $1,200 to $2,100 in basic economy.
The flight between the two cities takes about 8 hours and leaves EWR at 9:05 pm and arrives in Mallorca at 11:10 am the next morning.
This is a perfect itinerary for any new or even seasoned traveler as it leaves late at night, allowing time for dinner and (hopefully) sleep at night during the flight. The next morning you wake up early in beautiful Palma de Mallorca.
Calvia at the World Travel Market in London.
The British travel giant, Jet2 has announced a 25% increase in flights to Mallorca this winter, which will give the island a major boost during the low season. The announcement was made at a meeting this morning with the mayor of Calvia Alfonso Rodriguez and the head of tourism of Calvia, Xavier Pascuet.
The British travel agency said the additional flights would be part of its “Youth Lifestyle” program. Calvia, home to the popular resorts of Palmanova, Magalluf and Santa Ponsa, also wants to attract more winter tourists. The mayor said that the municipality offers a wide range of activities from the music festival Mallorca Life, which has been a huge success, to sporting events during the off-season.
The additional flights will be welcomed by Mallorca’s tourism industry in general as it could mean that more hotels will remain open.
The Council of Mallorca promotes the island in the low season as a center for hiking and other sporting events and also as a weekend getaway destination.
Germans, Nordics, French and Swiss are the great seekers of boutique and city hotels in Palma for their quality, infrastructure and services.
The strong European demand has meant that 80% of the hotel accommodation offer in Palma will be operational throughout the winter and will exceed the productivity ratios of 2019. The president of the Hotel Association of Palma and Cala Mayor (ASPHAMA), Javier Vich says that all forecasts are exceeded and that this will have a direct impact on the entire productive fabric of Ciutat and Mallorca.
“The commitment of the companies is to have hotels open all year round, but in the case of Palma, 80% of a total of 72 establishments will be operational. The remaining 20% will close in time to carry out updating work and adapt the hotels to the new tourist regulations, in case of installation of pavilion beds or change of boilers,” says Vich.
ASPHAMA’s occupancy forecast for November is for hotels to exceed 55% occupancy, up from 49% in 2019. For the rest of the winter, the average will be 40%, “with the characteristic that companies must face a great change in marketing”. The reason for this is that the reservations are so last minute that they are confirmed four days before coming to the hotel,” explains Vich. The Casc Antic boutique hotels in Palma, 26 in all, are marketed differently from the urban hotels, which is why their occupancy averages fluctuate upwards.
German, French, Nordic, Swiss, Spanish and British are the main markets that will increase occupancy rates in urban and boutique hotels this winter. Similarly, the basic cruises in the port of Palma also have a positive impact on the city’s accommodation offer.
Vich emphasizes that the commitment of companies in recent years “has created an accommodation offer in high demand internationally because of the quality of the establishments and services offered and much of this is due to the positive evolution of luxury tourism, mainly in the charming hotels. He adds that the fact that they are operational all year “helps maintain employment and has a positive impact on the deseasonalization strategy. For the hotel management of Palma, the type of customers who come “has a high purchasing power who come to enjoy all the tourist services and know the island during the low and medium season, outside the summer months”.
Turespaña, as well as the Consell and the Conselleria de Turisme, highlight the quality of Palma’s tourism establishments that complement the rest of the productive sectors of the city and the island, in the case of business tourism, meetings, incentives, conferences and exhibitions, what is known in the jargon as MICE tourism. The president of the hoteliers of Palma and Cala Mayor recognizes that the evolution of the tourist season “has been very good in terms of revenue and productivity, but it is also true that companies are facing much higher than expected operating costs from rising electricity prices and all raw materials, both food and non-food.”
For this reason, the urban hotel industry in Palma will have a positive book balance, but the profitability ratios will be affected by the production costs and this will be reflected in one way or another in the companies. The fact that 80% of the hotel floor is open throughout the winter, according to food and cleaning distributors and freight carriers, “will maintain activity in some months when the tourist flow is minimal in the resort areas of Mallorca.”
The French carry out real estate operations in the Balearic Islands since 2021 Farms, wineries, boating, technology, health and business services are the sectors that are capitalizing on investments. The French market is leading the percentage of growth in real estate operations in the Balearic Islands since 2021, mainly due to the positive effect of the implementation of the road Tolón-Alcúdia, as well as with Ciutadella. Mallorca and Menorca, in this sense, are the two islands most favored by the arrival of a tourism with high purchasing power and an age profile between 30 and 50 years. The Consulate of Gaul in Mallorca emphasizes that the "rediscovery" of the island "has an impact on the evolution of investments in the sale of rustic properties, warehouses and houses," explains Consul Michel Magnier. Real estate developers and builders emphasize the particular idiosyncrasy of the French investor. Mainly, because thanks to the maritime company Corsica Ferries "it comes to Mallorca with his private car and this allows him to know directly and without hurry all the offer of nature, gastronomy, active tourism and, basically, the urban centers, the Serra de Tramuntana, farms of all kinds and houses in the urban centers". Consul Magnier emphasizes that the potential French investor: "He knows and is surprised by what he sees, which later translates into a personal interest in acquiring a house that he owns, which will later become his first residence. He adds that unlike other European issuing markets, the French investor stands out for his predisposition to buy all kinds of real estate: "He is positively surprised by the interest he shows, as confirmed by the operations of buying wine estates, rustic properties that he restores and then resells, as well as the creation of all kinds of companies based in Mallorca or Minorca. The excellent connectivity is the main reason for this personal decision to settle and reside permanently. One of the sectors that benefits most is health, since Mallorca, according to the Consell de Mallorca, "has everything to be a destination open to all segments of tourism and health and interior (yoga, etc..)" . The average investment for the purchase of houses, mainly with sea views, exceeds 300,000 euros, although there are millionaire investments with the acquisition of wineries with their vineyards and rustic estates located in the Pla de Mallorca and in areas near the Serra de Tramuntana . Here, we must also include the rural hotel industry of Menorca, an island where 50% of the purchases in the real estate and tourism sector have been monopolized for two years. From the main foreign real estate agencies that operate in the Balearic Islands, they comment that the Gallic market "represents a high percentage of home purchase operations, focusing its attention on villas and penthouses with sea views, with pools and gardens. These are the most sought-after properties because in the short or medium term they can be resold, after having made heavy investments for the reform. This is an option chosen by the French investor and widely accepted". A company Consul Magnier shares this assessment because, he says, the French investor "also sees a business in buying all types of housing on the islands to resell later as an investment. The diplomat explains that the Platform of information and accompaniment of the French-speaking (PIAF) supports the SMEs created by the French. In this case, "the Consulate serves as a link to integrate the resident community and businessmen into the productive and social fabric of the Island," says the Consul.
