The new body's primary aim is to promote the capital as a serious city holiday destination and is a public/private venture involving the region's leading tourism and businesses entities as well as the City council and the Balearic government.
The event was held at the emblematic Bellver castle, which will soon have its own visitors' centre, and Isern stressed the importance of the new foundation's role in reactivating the capital's economy. This project has been one of our priorities since coming to power earlier this year, Isern said. It is going to be the key to reviving the city's economy which will lead to job creation and public/private investment, he added.
We have put together a highly professional team to manage promoting the city and adapting to the ever changing demands of the holiday market, be it domestic or international, he explained.
What is more, with the foundation being a public/private venture, it will be a firm and solid body and enable us to manage public funds in a different and more transparent manner.
And, we're going to take promoting Palma extremely seriously, he underlined.
The public entities involved include Palma Council, the Port Authority, Spanish Airport and, eventually, Air Traffic Control body Aena while those from the private sector include nearly all of the region's leading business and tourism experts.
Meliá Hotels International, Iberostar, Riu, Air Berlin, Air Europa, Acciona-Transmediterránea, Arabela, Grupo Trui, Logitravel, Orizonia, Palma Aquarium, Hoteles Beds, City sightseeing bus, Dome Consulting and Ibacer are just some of the private sector members.
Isern explained that each of the private companies which have signed up to the foundation have invested 3'000 each in the creation of the foundation along with a further 97.000 euros in incentives and support.
Palma City Council has matched that which means the foundation can get to wotrk with an initial budget of 3.6 million euros.
Deputy Mayor and Councillor for Tourism, Alvaro Gijon, said the foundation will enable the city to expand and diversify its tourist industry while consolidating its existing attractions.
On behalf of the private sector, the Vice-president of Meliá Hotels International, Gabriel Escarrer, said that the foundation has three main aims, promote the capital, establish an all-year industry and put Palma on the city break map once and for all.