Palma Nova/Magalluf is probably the only resort with a bit of life in February. An alternative would be to stay in Palma Town which is not typcal holiday resort but as then main town will have plenty open.

Kind Regards
Stewart

Have been to Mallorca twice in January, the last two years. Stayed in the Costa Azul Hotel, right on the harbour in Palma. Nice hotel, we just stayed b and b, It was about a 15 min slow walk round the harbour to the Cathederal. Nice places to eat, also nice to go to the station and go on the little wooden train up to Soller. Also easy for the bus to get to Palma Nova and Magaluff, If I can help any further, just ask. We booked the Hotel through Hotel Connect in the UK, and our flights with BMI baby, £65 for two return flights and the hotel was £220 ish for 4 nights b and b for the two of us. It was so easy to get to the hotel from the airport, No 1 bus just at the airport, about E1.80, dropped of just near the hotel

We have also stayed at the Azul , very nice and a lovely breakfast.
We went in April for 4 nights booked with alpha beds and the flights with BMIbaby.That was very cheap as well, Can't remember the exact price but it was under £300 for the 2 of us with everything.
Palma is a lovely place to visit off peak.
We went on the wooden train, the weather was lovely had a storm one night .And a little rain one day.
You needed a coat at night and a jumper or jacket in the day time.
We went on a boat trip round the harbour.
The tour bus was good, showing us places we would have seen other wise.
We would go there again.