You didnt say what part of the island you are visiting. I know of a business called LowerHire who rent cots etc. and they cover the island. Check out http://www.mobilityscootersmallorca.com and then go to "Other services" or you can ring them on (0034) 971 132 538 - (0034) 609 668 190.
Hope this helps

Depends where you are staying - there are a few shops in Palma inc El Corte Inglais who sell baby stuff and I know there's a baby shop in Manacor if you're on the east side of the island but not sure about anywhere else.

We took our 2 travel cots for our twins as from the hire point of view you don't know how clean and safe they are going to be and I'm a bit funny about things like that so personally I'd say as bulky as yours will be it might be the better option unless you know there's somewhere nearby where you can purchase.

Hope that helps. Tis

Thanks for the replies. We are going to be staying somewhere up near Arta

There is an Ikea and a large hypermarket (Carrefour I think) both near the airport. We always go to the Carrefour and buy our carseats on arrival (8 Euros for booster seat) and stock up on water etc... It has a really large baby section - can buy baby jars, formula, nappies at reasonable prices.