el Group is launching a new brand to target the ‘contemporary luxury market’.

The Spanish brand will open its first property under the new Bless Collection Hotels brand in Madrid in November this year. An additional hotel in Ibiza will follow next year, with plans to expand in cosmopolitan cities and key beach destinations.

The plans come following a management contract dal with investment groups Grupo Didra and Aina Capital.

Bless Hotel Madrid will be located on Calle de Velazquez in the city centre. It will have 111 rooms, a rooftop pool, spa and gym, as well as a restaurant, three bars and conference spaces.

The restaurant will be led by Martin Berasategui, holder of eight Michelin stars.

Abel Matutes, chief executive of Palladium Hotel Group, which has 48 hotels in six different countries, said: “We are moving at a pace to roll-out the development of new brand ‘BLESS Collection Hotels’ with the first property planned to open in Madrid in November 2018, followed by Ibiza in Summer 2019.

“The new upscale brand will leverage our position in the premium market and draws on our existing experience within the luxury and lifestyle sector.

“The concept of ‘contemporary luxury’ is aimed at an ever-growing ‘bleisure’ demographic looking for a combination of business and leisure including convenience, premium services, high tech facilities, strong design credentials and super-fast wifi as well as state-of-the-art health and wellbeing services and excellent gastronomy.