2 May, 2026 @ 18:00
1 min read

Inside Ibiza’s €47m Parador: A luxury hotel 3,000 years in the making

IBIZA may be known for its nightlife but its most exciting hotel opening for decades is highlighting the island’s rich architectural heritage. 

Some two decades in the waiting, Spain’s newest parador is one of the most historic and, certainly, stunning visually.

Located within Ibiza town’s UNESCO World Heritage site of Dalt Vila, the new luxury hotel occupies the 16th-century Almudaina Castle.

Right at the top of the town, the sensitive renovation has carefully preserved its history, as well as its foundations which go back a staggering 3,000 years.

READ MORE: New Hotel101-Madrid boasts over €5m of bookings since March opening

Opening last month, it comes after a long stop-start process involving teams of archaeologists.

Building work first began in 2009 and, over the course of a 17-year process requiring a €47 million investment, unearthed a range of treasures dating back millenium.

Archaeologists discovered ancient jars used by the Phoenicians and Carthaginians to transport oil, wine and grain as well as Moorish ceramics. 

The fortress had stood abandoned since the 1970s, but now the Parador Nacional de Ibiza has opened its doors to its first guests.

READ MORE: Iberian bound: the Marbella classic, a Sevilla hideaway and the Madrid grande dame on this year’s Condé Nast hotel hot list

With 66 luxury rooms and a pool suspended above the ancient city walls, the Balearic Islands’ first Parador celebrates an island whose history stretches far beyond its party reputation.

Spain is investing big in its state-run network of Parador hotels ahead of the brand’s centenary in 2028 – with €250 million set aside for new renovations. 

Ibiza’s freshly inaugurated Parador cost a staggering €47 million to renovate. 

But from the Costa del Sol to the Galician coast, these are the eye-watering sums behind the nation’s finest Paradors. 

Parador de Nerja

Nerja’s Parador is currently undergoing a €30 million renovation and is expected to re-open in spring 2028. 

Parador Hostal dos Reis Catolicos

A staggering €36 million has been invested in renovating Santiago de Compostela’s Parador Hostal dos Reis Catolicos. 

Parador Molina de Aragon 

In Guadalajara, a stone’s throw from Madrid, the Parador Molina de Aragon opened its doors in last year following a €22 million renovation. 

Parador Alcala de Henares

Alcala de Henares’ Parador opened in 2009 after an investment of approximately €44 million, just behind Ibiza’s total. 

Parador de Leon

Leon’s Parador has seen a recent investment of €30 million, with renovations creating 50 more rooms.

Click here to read more Property News from The Olive Press.

Maeeve is Scottish Madrid-based Olive Press trainee and recently graduate from the University of Glasgow with a degree in English Literature and Spanish. With experience writing for the Glasgow University Magazine (GUM) and METAL magazine, she loves writing about culture, food and politics.

Contact Maeve with any leads at maeve@theolivepress.es

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