Iberostar Set to Open Seven New Resorts in 2011
Iberostar Set to Open Seven New Resorts in 2011
Iberostar Hotels & Resorts said it plans to open seven new hotels and resorts this year, increasing its presence in such vacation destinations as Spain, Greece and Cuba (for non-U.S. travelers). The Spanish hotel chain currently has 101 hotels, 67,400 beds and more than 21,000 employees. The company closed 2010 with revenues of approximately $1.2 billion, representing a 9 percent increase over the previous year.
Reaffirming its commitment to quality in both the U.S. and international markets, Iberostar also said it will spend more than $60 million in 2011 on refurbishments to its existing hotel portfolio and expansion efforts.
The seven hotel openings will be in countries where Iberostar is already well established. Adding to its strong presence in Spain, the brand will open two four-star hotels: the Iberostar Coral Beach in Marbella and the Iberostar Malaga Playa in Malaga in spring 2011. The company will also open a five-star Iberostar Mencey in Tenerife, Spain.
Throughout the year, the brand will continue to develop internationally, adding the Iberostar Hermes in Crete, Greece, in the spring and three new hotels in Cuba, including the Iberostar Parque Central, a five-star urban resort in Havana, and two new four-star resorts, the Iberostar Krystal and Iberostar Emperador in Cayo Coco.
This year, the brand will be expanding, with new urban and resort holiday projects underway in Mexico and Cuba. In Mexico, new investments are slated for the Pacific coast and the Cancun area and in Cuba at Playa Ancon, near Trinidad. In addition, Iberostar is expanding with new urban properties planned for Cartagena de Indias, Colombia, and Buenos Aires, Argentina.
Iberostar is a family-owned hotel chain based in Palma, Majorca. Its resorts are four- and five-star properties, located in 16 countries across Spain, the Mediterranean, the Caribbean, and South America. The hotel chain, which is owned by Grupo Iberostar, has more than 100 hotels and 36,000 rooms.
