Cartagena and Buenos Aires will have properties of the Iberostar Hotels & Resorts hotel chain in the short term, the company announced to the Spanish press. The company stressed that it plans to continue its expansion in the Latin market due to the good results obtained in 2011.
The new properties would be in addition to those already existing in Cuba and Mexico; in fact, it is important to highlight the investment made by Iberostar to acquire the Hilton Cancun, currently Iberostar Cancun, which reached $79 million Euros.
This was justified by the knowledge of the income balance offered by the organization, in which they reported a turnover of $950 million euros in 2011 for a 7.8% increase in the company's revenue compared to the previous year.
In statements made to the Spanish media within the framework of the Fitur International Tourism Fair, the company's representatives assured that "countries such as Brazil or Mexico are expanding economies with a thriving middle class. The target audience is growing more and more and they demand more premium, high-end services."
