Convention centre runs out of time

The award for managing Palma’s Palacio de Congresos will now have to wait until a new administration is in place at Palma City Council. The confirmation of this was made yesterday by the council’s spokesperson Julio Martínez, who said that not all reports related to the adjudication would be available before the administration enters a phase of being unable to make decisions because of the election. It is known that the report into the valuation of the hotel puts this higher than the 40.5 million euros figure which was given in July 2013; it is now 42.5 million.
Although the council’s legal services have not finished their considerations of the Palacio’s specifications, it would seem that the award will ultimately be favourable.
The council has to recover the cost of the plot of land for the hotel - 12.5 million euros - which would in any event have been covered by a sale price of 40.5 million. Though the valuation has risen, it is apparently possible that the price for the hotel will not increase, though there is uncertainty on account of “surprises” that the reports might yet contain.