Iberostar will Add 1,500 Rooms to its Portfolio in 2019

24 January 2019 – Expansión

Grupo Iberostar is continuing with its expansion plans and intends to add seven new hotels to its portfolio this year, containing 1,500 rooms in five countries. The new establishments will open in Palma de Mallorca and Madrid, in Spain; in Monastir and Sousse, in Tunisia, where the Spanish hotel chain already has a presence; as well as in Istanbul (Turkey), Rome (Italy) and Lagos (Portugal), where the group will make its debut.

The company, which opened 13 establishments last year, explained that 2019 is going to be “key” for the consolidation of the projects it has underway in Los Cabos and Litibú (Mexico) and for others, which are more advanced, in destinations such as Montenegro, Aruba, Albania and Cuba.

The chain, which is owned by the Fluxá family, owned 96 hotels around the world containing 31,720 rooms at the end of 2018. In Spain, the company owned 35 hotels and 9,888 rooms at the end of last year.

In terms of operational data, Iberostar closed 2018 with revenues of €2.659 billion, which represented an increase of 9% YoY, and it created around 4,000 jobs (…).

Original story: Expansión (by R.A.)

Translation: Carmel Drake

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