Leading Spanish Hospitality Brand Experiences Global Revenue Increase of 7.8%; Continues Investments with Portfolio Additions in Latin America and Europe
Iberostar Hotels & Resorts today announced results for 2011, highlighted by global revenues of approximately €950 million, a 7.8% increase from the previous year. The leading Spanish hospitality chain also shared details of a series of investments and expansions executed in 2011, as well as those planned for 2012. Currently, the brand has a portfolio of more than 100 hotels, 67,000 beds and over 21,000 employees in 15 countries worldwide.
2011 Hotel Openings
In line with previously announced plans for thoughtful global expansion and a strong commitment to quality, nine hotels were added to the Iberostar Hotels & Resorts portfolio in 2011.
The brand developed its already strong presence in Spain, with the opening of two four-star hotels in Marbella and Malaga in spring 2011. Additional properties were added, including a hotel in Crete, Greece, and three new hotels in Cuba - an urban resort five-star hotel in Havana and two new resorts in Cayo Coco.
Iberostar Hotels & Resorts also invested over €79 million in the acquisition and refurbishment of the beachfront Hilton Cancún Hotel in Mexico, renamed Iberostar Selection Cancún. This new 100% owned hotel is a reflection of the firm international growth achieved by Iberostar Hotels & Resorts in its commitment both for expanding in new destinations and for strengthening its presence in already established countries such as Mexico, where the chain now counts with 9 hotels. Iberostar Selection Cancún opened its doors December 1, 2011.
Further, over €51 million was dedicated to the refurbishment of current properties in both Spain and the Caribbean.
Marbella - Spain
Iberostar Coral Beach
Malaga - Spain
Iberostar Malaga Playa
Crete - Greece
Havana - Cuba
Iberostar Parque Central
Cayo Coco - Cuba
Cayo Coco - Cuba
Iberostar Selection Ensenachos
Tenerife - Spain
Budapest - Hungary
Iberostar Grand Budapest
Cancún - Mexico
Iberostar Selection Cancún
In 2012, Iberostar Hotels & Resorts expects a number of new additions to the brand portfolio in Europe and Latin America.
During Q1 2012 and upon completion of all legal and financial procedures required, the acquisition of five hotels belonging to Thomas Cook in Spain is expected. Through the €94 million agreement announced in November 2011, Iberostar Hotels & Resorts will fully own and operate the following hotels: the Royal Cupido, Royal Cristina and Royal Playa de Palma in Majorca, the Royal Andalus and Andalucía Playa in Cádiz and the Novo Sancti Petri Golf Club.
Furthermore, in Latin America, additional vacation and urban properties are slated for development in 2012 on the Pacific Coast, Playa Ancón, Cuba, Cartagena de Indias, Colombia, and Buenos Aires, Argentina.
Additionally, IBEROSTATE, the real estate division of Iberostar GROUP, is continuing its 2011 plans for the consolidation and development of residential projects in the Dominican Republic, Mexico and Brazil, with strategic and strong development in each market in 2012.
TripAdvisor, the largest and most popular online global travel community, recently presented Iberostar Selection Anthelia with a "2012 Travelers’ Choice Award" for the "Best All-Inclusive Resort, Spain", as rated by its members. The property, located on the Southern coast of Tenerife, Spain, additionally won the award for Top 15 all-inclusive resort in Europe.
With competition from over 50 major international hotel brands, Expedia® named Iberostar as the 2011 "Top Partner of the Year, Caribbean Hotel Chain." Additionally, the Grand Rose Hall in Montego Bay, Jamaica as the "Top Partner Hotel of the Year, Jamaica", chosen from a pool of 120 hotels.