-GRUPO IBEROSTAR had a turnover of €2025m in 2016, up 10% on the previous financial year
-IBEROSTAR Hotels & Resorts plans to open six new hotels in 2017 and has confirmed an investment of €125m to renovate and update its hotels
-The company celebrated its 60th year of business in 2016, commemorating six decades working in the tourism sector with a fundamental commitment to quality and a clear international vocation
GRUPO IBEROSTAR closed 2016 with a turnover of €2025m, representing a 10% increase on the previous year.
GRUPO IBEROSTAR celebrated 60 years in business in 2016. Six decades together with its customers and employees on a journey that has brought them to where they are today, with hotels in 17 countries around the world and new companies such as W2M and Almundo.com which are now models in their respective markets.
Occupancy and reservations
IBEROSTAR Hotels & Resorts, the group’s hotel division, has developed very positively throughout the year in both EMEA and America.
Spanish destination continued to be more resilient that the rest of Mediterranean destinations, and closed the year with one of the best years ever in occupancy rates and results. The Canary Islands, the Balearic Islands and Andalusia closed the year well above most other European destinations with record numbers in terms of occupancy and RevPAR (Revenue Per Available Room), thanks to the growing demand in the Spanish market and excellent movement from traditional source markets such as Germany and Britain. Average occupancy of the division is well above 80%, and RevPAR has seen close to double-digit growth.
In the Americas, Mexico and the Dominican Republic particularly stand out with solid growth in occupancy, rates and profitability. Cuba, another strategic area for Grupo IBEROSTAR, also shows signs of growth regarding rates and profitability.
Investments
The chain developed an ambitious investment plan in 2016 with a twofold objective. On the one hand, opening hotels in new destinations such as the USA (IBEROSTAR 70 Park Avenue, New York), which opened for business in June 2016 and Ibiza (IBEROSTAR Santa Eulalia Ibiza), and on the other, the renovation and upgrading of some of its hotels to adapt them to the new needs of customers and the company’s quality standards.
As part of its policy of reinvesting profits, the company spent more than €90m in renovating several of its hotels around the world.
GRUPO IBEROSTAR Diversification
One of the key factors that have led to GRUPO IBEROSTAR’s excellent results in recent years has been the strong diversification policy of its business portfolio within the international tourism sector. As part of this strategy, GRUPO IBEROSTAR now holds the majority of capital in Almundo.com, which is the largest physical travel sales network in Argentina with 50 points of sale and the second largest online. In 2016, the agency strengthened its online presence in Mexico, Colombia and regional markets and reached a similar turnover to the previous year despite the strong devaluation of currencies in countries where it operates.
Working in the same vein, W2M (WORLD2MEET), a global provider of travel services owned by GRUPO IBEROSTAR, has focused its activity on international expansion and strengthening its position in destinations where it is currently present.
