Following profitable 2018, Iberostar plans global growth

Iberostar Fontana di Trevi
The Iberostar Fontana di Trevi is slated to open this year as part of the company’s plan to grow in city centers. Photo credit: Iberostar Hotels & Resorts.

It was a good year for Spain's Iberostar Group, which reported more than $3 billion in net sales for 2018, a 9-percent increase compared to 2017.

Following the opening of 13 hotels in 2018, including the company's Barcelona debut, Iberostar is set to open seven new properties in Spain (Majorca and Madrid), Portugal (Lagos), Italy (Rome), Tunisia (Monastir and Sousse) and Turkey (Istanbul), adding approximately 1,500 rooms in three new destinations to its portfolio. 

This year also will be crucial for the consolidation of operations currently underway in Los Cabos and Litibu (Mexico) and advancements in other destinations such as Montenegro, Aruba, Albania and Cuba.

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In recent years, the company has invested more than $570 million and will continue investing in growth through at least 2022, with further investments already allocated to Europe and the Americas. As result of these investment efforts, more than 70 percent of the company's properties have been renovated.

The Iberostar Group has a portfolio of more than 120 hotels in 18 countries.