The Spanish hotel chain recorded a turnover of €950 million in 2011, a 7.8% increase on the previous year
The main highlights for 2011 included the acquisition and refurbishment of new hotel Iberostar Selection Cancún for $100 million (€79 million) and the agreement for acquiring ownership of five Thomas Cook hotels in Spain for €94 million. Additionally, €26 million w
Iberostar Hotels & Resorts closed 2011 with a turnover amounting to €950 million, a 7.8% increase on the previous year.
Currently the Spanish hotel chain has more than 100 hotels in 15 countries, 67,000 beds and over 21,000 employees in its service.
2011 LANDMARKS
With the aim of maintaining a firm and steady growth, the chain opened nine new hotels in 2011: Iberostar Selection Marbella Coral Beach in Marbella; Iberostar Waves Málaga Playa in Malaga; Iberostar Hermes in Crete; Iberostar Selection Parque Central in Havana; Iberostar Laguna in Cayo Coco (Cuba); Iberostar Selection Ensenachos in Cayo Ensenachos (Cuba); Iberostar Selection Cancún, in Cancún (Mexico); Iberostar Grand Budapest in Hungary and Iberostar Heritage Grand Mencey in Tenerife (Spain).
Continuing its strategic plan for international development in 2011, Iberostar Hotels & Resorts invested over US$100 million (€79 million) in the acquisition and refurbishment of a 5-star hotel resort in Cancún (Mexico) - a key destination for business and leisure tourism.
The latest addition to the hotels Mexican portfolio, the Iberostar Selection Cancún opened its doors to guests on 1st December last year. This new fully owned hotel is a reflection of the international growth achieved by Iberostar Hotels & Resorts in 2011 and its ongoing commitment to growing in new destinations and increasing its presence in countries with existing properties.
In November 2011, GRUPO Iberostar also signed an agreement to acquire five Thomas Cook hotels in Spain. The investment amounted to a total of €94 million and included the acquisition of the Novo Sancti Petri Golf Club. The hotels acquired were; the Royal Cupido, Royal Cristina and Royal Playa de Palma in Majorca; and Royal Andalus and Andalucía Playa in Cádiz.
Throughout the year, the hotel chain invested €26 million in refurbishing establishments in Spain and a further €25 million in refurbishing hotels in the Caribbean.
PLANS FOR 2012
During the first quarter of 2012, the takeover of the Thomas Cook hotels in Spain will be fully implemented, with an investment group headed by Iberostar taking 100% control of the properties.
Furthermore, Iberostar Hotels & Resorts will continue its expansion policy in 2012 by exploring new destinations and urban locations in countries already consolidated such as Mexico. New investments are also being considered by the hotel chain on the Pacific Coast of Cuba, in the Ancón Beach area, and there are plans to expand the hotels urban projects in new destinations such as Cartagena de Indias (Colombia) and Buenos Aires (Argentina).
IBEROSTATE
For IBEROSTATE, the real estate division of GRUPO Iberostar, 2011 has been a year for consolidation and development in which €41 million was invested in to residential projects in the Dominican Republic, Mexico and Brazil.
For 2012, an investment of €36 million is planned to keep buildings to the standard set by the markets in all three destinations.
