Iberostar Group’s strong 2024 included managed revenues of 4,468 million euros, representing a 17% increase compared to 2023, driven by the growth of its two divisions: Iberostar Hotels & Resorts and World2Meet.

Iberostar Group’s Vice Chairman and CEO, Sabina Fluxá, said: “2024 has been a record year for Grupo Iberostar. Growth and profitability have worked hand-in-hand, driving sustained progress across all areas of the business.”

For the year ahead the company will continue to focus on quality in the customer experience, training and development of talent and responsible tourism to continue generating a positive impact, she added. In 2024, the company grew its workforce by 1,800 employees, surpassing 37,000 people globally, while continuing its investment in homegrown talent.

New Resort 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 8% rise in Revenue Per Available Room (RevPAR) compared to 2023.

Total managed revenues reached 2,180 million euros, marking an 8% increase compared with the previous year, accompanied by an EBITDA growth of 13%.

“In the hotel division, planned investments for 2025 will approach 210 million euros, demonstrating our long-term vision and the company’s commitment to delivering new destinations and exceptional experiences for every guest,” said Phil McAveety, CEO of Iberostar Hotels & Resorts.

Achieving a guest satisfaction rate of 92% in 2024, 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, and Iberostar Selection Mirage Hammamet in Tunisia.

Throughout 2025, Iberostar will also continue investing in its hotel portfolio in Spain, Mexico and the Dominican Republic.

Sustainability & Strategy

In 2024 Iberostar expanded its 3R department to 250 members, a global team dedicated to eliminating landfill waste. Additionally, +90% of the seafood served at its properties was responsibly sourced, with the company further advancing its multinational reef program, with eight active coral nurseries in the Caribbean.

In line with its commitment to promoting more inclusive tourism, by the end of 2024, over 200 young professionals from Spain and Mexico participated in its Dual Vocational Training Program, which combines theoretical learning with practical application in its hotels.

Iberostar has also established an in-house team of more than 30 scientists and specialists collaborating with public and private sectors, and the scientific community, to drive innovation and sustainability strategies.

Meanwhile Iberostar Group’s travel division, World2Meet, ended a 2024 full of milestones that reinforced its position in the tourism sector. By the end of 2024, World2Fly airline announced the addition of new international routes, which will start operating in 2025: La Romana, D.R. from Madrid, Mauritius and Montego Bay, expanding its network of connections from Madrid and Lisbon airports. There’s also an expanding vacation tour operator, Newblue, among other divisions.

Source: Travelweek