The Prix Formentor (also known as Premio Formentor de las Letras, Formentor Literature Prize and The Formentor Prize) is an international literary award given between 1961 and 1967, and, after a long break, from 2011. In the 1960s, the Formentor Group offered two prizes, the Prix Formentor (The Formentor Prize) and the Prix International (the International Prize); the former was given to previously unpublished works and the Prix International was given to works already in distribution. The prize takes its name from the town of Formentor on the Spanish island of Mallorca that was famous for its literary gatherings.As of 2012, the award carries a cash prize of 50,000 euros ($65,000) given to a single author. Source: Wikipedia (en)