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Iberostar Will Open 7 New Hotels in 2011

News Iberostar Hotels & Resorts, a European hotelier headquartered on Palma de Mallorca, has reported its increasing sales in 2010. Comparing to 2009 the company’s sales feature an increase of 9% or €881 million in total. Inspired by successful year, the company plans to work over its portfolio actively and increase the number of properties in it. Currently the company has 101 hotels and approximately over 64,000 of guestrooms.

In 2011 Iberostar has scheduled for opening 7 new properties. These are the 4-star hotel in Malaga (Spain), a hotel in Crete, 2 hotels in Cayo Coco and 3 hotels in Cuba.

The company has also revealed its plans concerning future targeting markets. Iberostar wants to concentrate on opening hotels in Buenos Aires, Colombia, Cancun, Cuba and Playa Ancon.

Significant costs will be also used for renovation purposes as Iberostar plans to spend around €45 million for this.

This year the hotelier has also started new business in real estate area. All deals will be done through a special division of the company that already offers units for sale in Brazil, Dominican Republic and Mexico.

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