Iberostar loses 63 million and revamps its hotel map with tourism boom

IberostarThe Spanish hotel chain, the second largest in terms of turnover until 2019, is trying to break out of the Covid-19 spiral. The family-owned company of the Balearic island chain Fluxá closed the second year of the health crisis still in red numbers, although it eased it significantly compared to 2020. The tour group, which launched other divisions this year to expand its circumference, Face the summer campaign hoping to take advantage of the tourism boom And erase the red numbers after arranging the map of your hotel.

The chain’s red numbers reached 63 million before taxes, according to its latest sustainability report, a number that rises to just over 70 million after tax obligations are paid. these numbers The latest economic numbers separated by Fluxá After the outbreak of the health crisis, which initially had to close all its institutions (more than 100 in 16 countries). However, the group managed Softening the blow as far as the first year of Covid is concernedwhen he lost about 300 million euros.

The best news is that some places are actually profitable for the group. This is Brazil, where it has three hotels (Heritage Grand Amazon, in Manaus, Bahía and Selection hotels in Praia do Forte). The company also records profits before taxes in the NetherlandsIt does not have a hotel business but does some sales through different companies. In both places, you add 10 million in profit.

The key that identified these numbers and will distinguish those of the current year in progress is the hotel map, which Rearranged after expansion plan was announced in January 2020, just two months before the state of alert. With all hotels reopening and without major restrictions on movement, the company has led sabina floxa Opened in 2021 some of the ones I had planned a year ago, like The Selection Miraflores, in Lima (Peru).

Iberostar also decided to go ahead and withdraw from other projects, such as the luxury Albéniz Hotel, which would have been its second Madrid hotel, How did you provide the information?Behind Las Letras Hotel, in Gran Via. Another victim occurred in Tenerife, in the south of the island, where the hotel was sold for 100 million dahlias a Starwood. The American investor, working under some kind of socimi, kept the Balearic family as the operator of this hotel, which is considered one of the best Everyone is included From Spain.

Apart from the hotel activity, the company took the opportunity to end the incubation of its complementary divisions with W2M, which includes travel agency areas and includes other subsidiaries such as bed bank and even airline (WorldToFly). Although it is still in its infancy, Gabriel SabiasIts president explained that by 2022 bills are expected to reach 1,121 million euros across its periphery.

2022 is the year of the resurrection

The company hopes to benefit from the tourism boom this year. Estimated National Institute of Statistics (INE), Spain received 7.5 million international tourists in June, a number more than three times the data for the same period in 2021. They also increased their spending to 8,993 million euros. In any case, this data is still lower than that of 2019. Added to the public figures are the personalities of consultants. glass Cushman & Wakefield It indicates that the cumulative occupation in the first half of the year doubles that of the previous year.

However, the two-year cumulative losses have taken their toll on the family who owns it. Floxa, also known as other commercial interests such as shoes – they made cart s Lotus– They witnessed damage to their assets, according to the latest classifications prepared by them Forbes About the richest people in Spain. In this American magazine ranking, Miguel FloxaHotel giant, innovator, from appearing in top 5 Great fortunes in Spain to occupy the number 22.