Iberostar Set to Open Seven New Resorts in 2011

berostar Hotels & Resorts said it plans to open seven new hotels and resorts this year, increasing its presence in such vacation destinations as Spain, Greece and Cuba (for non-U.S. travelers). The Spanish hotel chain currently has 101 hotels, 67,400 beds and more than 21,000 employees. The company closed 2010 with revenues of approximately $1.2 billion, representing a 9 percent increase over the previous year.

Reaffirming its commitment to quality in both the U.S. and international markets, Iberostar also said it will spend more than $60 million in 2011 on refurbishments to its existing hotel portfolio and expansion efforts.

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