Iberostar confirms five new hotels after record year

Iberostar Group is continuing to invest in its portfolio, including five new hotels, on the back of an “exceptional” 2024.

Properties in Majorca, Fuerteventura and Lanzarote together with Mexico and the Dominican Republic will be targeted in addition to new openings.

Iberostar opened its first hotel in Aruba in December after two properties in Miami.

Two additional properties are due to open this spring in Majorca and Hammamet in Tunisia. The group will also open its 20th hotel in Cuba.

The disclosure came as the Spanish hotel and tour operating group reported a 7% rise in revenues to almost €4.5 billion over 2023.

Growth of its two divisions, Iberostar Hotels & Resorts and travel division World2Meet, contributed to the improved performance.

Iberostar Hotels & Resorts chief executive Phil McAveety said: “In the hotel division, planned investments for 2025 will approach €210 million, demonstrating our long-term vision and the company’s commitment to delivering new destinations and exceptional experiences for every guest.”

Group vice chair and chief executive Sabina Fluxa said: “2024 has been a record year for Iberostar Group. 

“Growth and profitability have worked hand-in-hand, driving sustained progress across all areas of the business. 

“In 2025 we will continue to reinforce the essential pillars of our business strategy: quality in the customer experience and the training and development of talent, highlighting our responsible tourism model to continue generating a positive impact.”

The hotel division, which ended 2024 with 31,500 rooms across 100 properties in 14 countries, reported positive results and remained a key contributor to the group’s profitability, although figures were not disclosed.

A “sustained increase in demand” from key source markets, along with ongoing investment in its assets over recent years, resulted in a 8% rise in the key metric of revenue per available room (revpar) compared to 2023. 

Total managed revenues reached almost €2.2 billion euros, up 8% increase compared with the previous year, accompanied earnings growth [ebitda] of 13%. 

Global results were especially bolstered by the EMEA region, which recorded a 9% increase in average daily rate and more than 12% growth in revpar.