- Its hotel division, Iberostar Hotels & Resorts, recorded 2,180 million euros in revenue, marking an 8% increase compared to the previous year. It plans to open five new hotels in 2025 with an investment of approximately 210 million euros in new projects and asset transformation.
- Its travel division, World2Meet, continued its portfolio growth, now comprising 20 specialised brands transecting the tourism value chain.
- The Mallorca-based group enters the new year focused on expanding its hotel division and consolidating its travel division, while maintaining its commitment to nurturing and training talent.
2024 has been an exceptional year for Iberostar Group. The company closed the year with 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.
Sabina Fluxá, Vice Chairman and CEO of Iberostar Group, emphasised: “2024 has been a record year for Iberostar Group. 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.”
The group remains committed to nurturing talent. In 2024, the company grew its workforce by 1,800 employees, surpassing 37,000 people globally, whilst continuing its investment in home-grown talent, fostering professional development and ensuring the wellbeing of its people.
Iberostar Hotels & Resorts: New Openings and Guest Experience
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 a 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%. Global results were especially bolstered by the EMEA region, which recorded a 9% increase in Average Daily Rate (ADR) and more than 12% growth in RevPAR compared to 2023.
Phil Mc Aveety, CEO of Iberostar Hotels & Resorts, stated: “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.”
With 92% of its guests satisfied 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, 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.
Iberostar Wave of Change
Iberostar Wave of Change is the company’s roadmap for responsible tourism, structured around seven pillars encompassing social, governance, and environmental aspects: Caring for our People, Destination Stewardship, Circular Economy, Nature, Blue Foods, Climate Action, and Responsible Growth. Via these pillars, the company executes a robust action plan. 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 that create meaningful impact both in its operations and the destinations in which it operates.
World2Meet: New Initiatives and Expansion
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 (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 stand out with 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.
On the other hand, GRAND Azulmarino has 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 travelers, has marked another milestone in W2M’s commitment to offering fully customized, high-quality packages.
