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Iberostar Records 10% Rise In Revenue In 2012

Friday, February 15, 2013
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IBEROSTAR Hotels & Resorts ended 2012 with 1,047 million euros in revenue, a 10% rise in comparison with 2011. These excellent end-of-year results stem from its internationalization strategy, combined with the diversification of its outbound markets, with the Spanish market making up 5% of its global revenue. These results are further proof of the company’s consolidated position, which continues to show the upward trend of recent years both in terms of revenue and results.

The company remains firmly committed to quality and the ongoing improvement of its products and services. This commitment is shown by the high level of customer satisfaction, which in 2012 reached a repeat rate of 42%, reflecting the outstanding degree of loyalty to the brand.

The Spanish hotel chain, which is present in 16 countries and employs 21,000 professionals worldwide, is strengthening its position at the forefront of the vacation hotel sector.

Looking back at 2012

In 2012 IBEROSTAR Hotels & Resorts continued with its policy of consolidating projects set up the previous year. Highlights included the opening of the IBEROSTAR Cancún, bringing the total number of hotels in Mexico to nine.

Last July, IBEROSTAR, in a joint venture with a group of investors, acquired a 100% stake in Thomas Cook’s five hotels in Spain, which the chain was already operating under a management concession (the Royal Cupido, Royal Cristina and Royal Playa de Palma in Majorca, plus the Royal Andalus and Andalucía Playa in Cadiz). The operation, which totalled 94 million euros, also included the acquisition of a golf club with two 18-hole courses (Novo Sancti Petri Golf Club).

In addition, last year the company carried out a series of research activities, looking into various opportunities for growth in European and Latin American capitals. Each potential project has been the object of close study in order to guarantee the brand’s gradual but steady entry into the urban-vacation segment.

The chain’s Spanish hotels in the Balearics, Andalusia and Canary Islands enjoyed a good year in terms of occupancy rates and RevPar, thanks to traditional outbound markets such as Germany and the UK, as well as Russia, which has grown sharply in recent years.

In international terms, one of the key factors behind IBEROSTAR’s revenue growth was the positive performance of its Caribbean hotels. Demand for these hotels rose in 2012 thanks to the positive trends shown by the US, Canadian, Southern Cone and European markets.

Looking ahead to 2013

The company plans to invest a total of 83 million euros in 2013, providing a qualitative boost to the brand’s portfolio, and also intends to expand into new destinations.

On the one hand, the company will remain committed to those destinations it already operates in. At the end of the year, IBEROSTAR will be opening a hotel in Litibú, Mexico (situated north of Puerto Vallarta). The five-star IBEROSTAR Playa Mita will have 450 rooms and is set to become IBEROSTAR’s first hotel on the Mexican Pacific coastline and its tenth hotel in the country. Furthermore, in 2013 the Spanish hotel chain will be carrying out improvements and refurbishment work on the IBEROSTAR Cayo Coco, the IBEROSTAR Daiquiri and the IBEROSTAR Taínos, thereby bringing the total number of hotels operated by the chain in Cuba to a healthy 10.

Also planned for 2013 is the start of building work on IBEROSTAR’s new complex in Cartagena de Indias (Colombia). This five star hotel will have a total of 400 rooms.

In Spain, the chain will continue with its investment policy aimed at improving its hotels. Major projects for this year include the full refurbishment of the IBEROSTAR Jardín del Sol Suites (Mallorca) and all the rooms at the IBEROSTAR Isla Canela (Huelva).

In addition, the company will step up the search for expansion opportunities in key international tourism capitals in order to gradually position itself in the urban vacation segment.

About IBEROSTAR Hotels & Resorts

IBEROSTAR Hotels & Resorts is a family-owned Spanish hospitality company with more than 50 years of experience in the travel industry. IBEROSTAR provides unique vacation experiences, rooted in superior customer service and quality, in the world’s most popular vacation destinations. With more than 100 hotels in 16 countries, IBEROSTAR Hotels & Resorts is committed to offering excellence in quality and service and providing personal attention to each guest.

For more information, please visit iberostar.com.

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