Iberostar Hotels & Resorts saw a 12% increase in turnover for 2006 as it plans to open its 100th hotel in Jamaica this year.
The group announced it had €728.5 million turnover last year – which is 12% up on 2005’s figure of €650 million.
There are also plans to invest €280 million between 2007 and 2008 with the opening of 12 new hotels, including six new properties in the Mediterranean and the expansion of the chain in the Caribbean and Latin America.
The 100th hotel – the all-inclusive five star Iberostar Rose Hall Beach – is due to open in May this year in Montego Bay.
Iberostar marketing director Heike Genshow said the company has invested almost £300 million in new hotels and refurbishing existing properties
“Last year, we invested a total of €298 million in the construction of new hotels and the refurbishment of our current properties,” he said.