Iberostar Chain To Open 9 New Hotels Worldwide In 2006

Iberostar Hotels & Resorts 2005 Revenues Up Over 7.8%

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. October 14, 2008

PALMA, Majorca, June 20, 2006. Iberostar Hotels & Resorts' continued expansion in the Caribbean and South American markets in 2005 has garnered them another record year of success. The Palma, Majorca-based company, which brings European elegance to the all-inclusive resort concept, reports sales grew over 7.8% in 2005 for all hotels of the chain. In turn, Iberostar invests over $1 million each year upgrading every resort. That way, guests are ensured an outstanding, five-star vacation experience every time they visit an Iberostar property.

Iberostar now offers guests exclusive vacations in 15 all-inclusive resorts in five beautiful Caribbean locations, 76 hotels in Spain and the Mediterranean plus the brand new Iberostar Bahia, in Praia do Forte, about 35 miles north of Salvador, the capital of Bahia State in Brazil and their new cruise ship, the Grand Amazon, with its home port in Manaus, Brazil.

According to John Long, vice president of sales and marketing for Iberostar Hotels & Resorts Caribe, '...Travelers' high booking demand in 2005 resulted in an average occupancy of 90% throughout the year including a 35% repeat business index. This can be attributed to the resorts' many features such as the exotic beach locations, family-friendly accommodations, a variety of specialty restaurants, meetings and incentive space, nature preserves, beautifully designed pools and water features, children's programs, full service spa, golf course, fishing, scuba diving and water sports plus a vibrant nightlife all supervised by a friendly and superbly trained staff.'

The continued expansion into the Caribbean and South America is an important business model for Iberostar. 'The Caribbean has been an extremely successful market for Iberostar and continues its growth,' commented Mr. Jos'e Antonio Gonz'alez, CEO of Iberostar Hotels & Resorts. 'We anticipate an excellent return on investment with our ventures into Brazil as well.'

In 2005, Iberostar's superior service and accommodations were, once again, recognized by leisure travelers booking through Apple Vacations. In 2005, the Crystal Award, one of the world's most highly coveted tourism prizes, was awarded to Iberostar Paraiso Maya for Best Staff and Service.

2005 will also be remembered as the year Iberostar launched the Iberostar Grand Amazon cruise ship, an all-inclusive, luxury mega-yacht that will transport up to 148 guests on an exotic cruise along the Amazon and Rio Negro Rivers out of its home port of Manaus, Brazil. This magnificent, 1500 ton, vessel set sail in May, providing the five-star comfort that Iberostar guests have learned to expect. 'Iberostar has not only built the grandest cruise ship, but we've meticulously planned an extravagant itinerary with superior onboard service and amenities,' states Mr. Gonzalez.

Iberostar's strategic 2006 growth plan includes their first adults-only luxury all inclusive hotel in Mexico, the Iberostar Grand Hotel Paraiso (scheduled to open in December 2006) and a beachfront resort in Montego Bay, Jamaica, the Iberostar Rose Hall Beach (scheduled to open in Winter 2007) plus the opening of six new resort complexes world-wide, adding up to a total of 100 hotels and 63,732 beds by year's end.