Iberostar Hotels and Resorts has set out the company’s vision and future investment, including €700 million earmarked for continued renovations and new openings.
At a launch event in Madrid last week, the company revealed its new brand identity, which has included updating the star in its logo and enhancing the “Let it shine” strapline. Hotels will now be divided under three main categories: City Hotels, Ocean Resorts, and Heritage Hotels, while Grand Hotels has been designed to highlight the group’s luxury hotels – of which there are currently nine – from across the three categories.
Around 1,500 agents – along with 2,000 guests and 100 employees – were surveyed over the course of last year for their thoughts on the brand and to help the company build its new look.
Speaking at the Madrid event, Sabina Fluxa, vice chairman, chief executive and daughter of founder Miguel Fluxa, said: “We have embarked on an ambitious programme of transformation and 70% of our hotels are now four or five-star quality. We have seen spectacular growth, which is one of the reasons we now wanted to re-segment our hotels into these four key areas.”
The family-owned, Majorca-based company is one of the world’s largest privately held hospitality companies and has 110 hotels in 35 countries with eight million customers a year. It owns 54% of its hotels, while 36% are management-only and 10% leased. The group has been adding hotels to its portfolio at an average of seven a year, Fluxa said.
“A big part of the investment plan will be on owned assets with many developments taking place in the Americas, which have been clear targets for us for a long time,” added Luis Mota, chief strategy and finance officer, who highlighted Los Cabos and Aruba as among new projects. “The next phase of development will also include a good push in city hotels.”
A Barcelona hotel will open this month, and the group is working on a “heritage project” in Santo Domingo in Domincan Republic and a new-build property in Lima, Peru, as well as projects in Majorca, Ibiza and Cuba. Current renovation projects include Iberostar Alcudia Park in Majorca, which will reopen in April, Mota said.
The future developments come off the back of a six-year investment strategy of €500 million. “The idea is to have as many of our hotels as possible to have gone through the renovation process,” Mota added.