Spanish Group Makes Major Investment In Jamaica 

News Americas, New York, NY, February 24, 2025: Spanish hotel giant Palladium Hotel Group is making a major investment in Jamaica, with a massive €500 million, (J$85 billion), expansion project set to transform the island’s tourism landscape. The development, which will add 950 new luxury rooms and 600 houses for tourism workers, was hailed by the country’s Prime Minister, Andrew Holness, as a resounding vote of confidence in Jamaica’s economy and the government’s ASPIRE growth agenda.

Speaking at the groundbreaking ceremony in Hanover, Jamaica recently, Holness underscored the strategic importance of the project, noting that it reflects Jamaica’s economic resilience and attractiveness to foreign investors.

“For the past decade, Jamaica has focused on fiscal consolidation and debt reduction. The scale and speed of our economic turnaround have no parallel among developing nations. The fact that Spain’s Palladium Hotel Group is investing at this level is a strong endorsement of Jamaica’s stability and potential,” Holness said.

Spain’s Continued Investment in Jamaica’s Tourism Industry

The Palladium Hotel Group has been a key player in Jamaica’s thriving tourism industry, and this expansion further solidifies Spain’s deep-rooted investment in the island. Holness extended gratitude to the Spanish government and investors, highlighting Spain’s €2 billion portfolio in Jamaica’s tourism sector.

The expansion will not only increase Jamaica’s hotel capacity but also contribute significantly to local job creation and economic linkages. Minister of Tourism Hon. Edmund Bartlett emphasized that every major tourism investment must now include housing and integration with the local economy, ensuring that Jamaicans benefit directly from the sector’s growth.

The expansion will introduce a state-of-the-art convention center capable of hosting over 1,000 guests, positioning Jamaica as a top destination for business and leisure tourism. Additionally, the development will feature:

Sustainable and energy-efficient building designs
Educational initiatives and skill development programs for local residents
Enhanced tourism experiences with a focus on high-end hospitality

President of the Palladium Hotel Group, Abel Matutes Prats, expressed excitement about the project and its potential impact on Jamaica’s economy and global tourism appeal. As Jamaica continues to attract multi-billion-dollar investments in tourism, this historic expansion by a leading Spanish hotel group reaffirms the island’s growing prominence in the global travel industry.