Iberostar Group saw revenue growth & expansion in 2024

Iberostar Group is reporting a round of growth and expansion.

The hotelier says it closed 2024 with managed revenues of 4,468 million euros, representing a 17 per cent increase compared to 2023, driven by the growth of its two divisions: Iberostar Hotels & Resorts and World2Meet.

“2024 has been a record year for Grupo Iberostar,” said Sabina Fluxá, vice chairman and CEO of Iberostar Group, in a press release Tuesday (Jan. 21). “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’.

New openings

The hotel division, which ended 2024 with 31,500 rooms across 100 properties in 14 countries, reported positive results and remains a key contributor to the group’s profitability.

A sustained increase in demand from key source markets, along with ongoing investment in its assets over recent years, resulted in an eight percent rise in Revenue Per Available Room (RevPAR) compared to 2023.

Total managed revenues reached 2,180 million euros, marking an eight per cent increase compared with the previous year.

Global results were especially bolstered by the EMEA region, which recorded a nine per cent increase in Average Daily Rate (ADR) and more than 12 per cent growth in RevPAR compared to 2023.

The company’s expansion plan focuses on new destinations as well as strengthening its presence in existing markets with the opening of five new beachfront properties.

Following the December 2024 opening of JOIA Aruba by Iberostar, its first hotel on the Caribbean island, the company recently inaugurated two hotels in Miami: Iberostar Waves Berkeley Shore and Iberostar Waves Miami Beach.

Two additional properties are scheduled to open in spring: Iberostar Selection Es Trenc in Mallorca, a Mediterranean style hotel on the Balearic Island, and Iberostar Selection Mirage Hammamet in Tunisia, which will become the brand’s 8th property in the country.

Under its Iberostar Cuba Hotels & Resorts brand, the group will also open Iberostar Selection La Habana, its 20th hotel in Cuba.

Throughout 2025, Iberostar will also continue investing in its hotel portfolio in Spain (Mallorca, Fuerteventura, and Lanzarote), Mexico, and the Dominican Republic.

World2Meet: New initiatives & expansion

Iberostar Group's travel division, World2Meet, ended a 2024 full of milestones.

By the end of 2024, World2Fly airline announced the addition of new international routes, which will start operating in 2025: La Romana (Dominican Republic) from Madrid, Mauritius (Indian Ocean) and Montego Bay (Jamaica), expanding its network of connections from Madrid and Lisbon airports.

In 2025, the airline will add already consolidated destinations such as Zanzibar and Uzbekistan, in addition to the recent opening of Cali last year.

Together with Newblue, its vacation tour operator, both are positioned as the airline and tour operator with the broadest schedule in the market to the Caribbean, Mexico, Dominican Republic and Cuba, with a total of 20 weekly frequencies during the summer in direct flights.

In addition, the tour operator Newblue has diversified its schedule with the incorporation of Madeira and Cape Verde, two destinations that reinforce its vacation offer. The group's tour operator, Kannak, also includes these destinations in its program, consolidating its launch in Latin America and Portugal in 2024.

In the area of major trips, Icárion continues to release innovative proposals. Among them, its initiative “El gran viaje a través del paladar" (a travel through flavors) combines the passion for exploring the world with the growing interest in gastronomy, through unique itineraries led by Michelin star ambassadors. In addition, the brand has extended its air connections to India, Sri Lanka and Turkey, reinforced its commitment to Lapland as a star destination and increased its offer of exclusive trips in Peru, Costa Rica and the United States.

GRAND Azulmarino has meanwhile continued to expand its network of boutique agencies throughout Spain, consolidating its presence as the brand of reference for the sophisticated client.

Finally, the launch of New Travellers Uppers, a new brand aimed at discerning and experienced travellers, has marked another milestone in W2M's commitment to offering fully customized, high-quality packages.

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