As a historical player in the hospitality industry, Iberostar Hotels & Resorts continues its steady expansion while maintaining a strong commitment to sustainability. In this exclusive interview, Finn Ackermann, Chief Commercial Officer, discusses the brand’s recent openings, future development plans, and its unique approach to responsible growth. From new destinations in Aruba and Tunisia to a strategic focus on Asia and Africa, Ackermann shares how Iberostar remains selective in its expansion while ensuring profitability and long-term success.
Hospitality ON: Can you share some recent developments and openings within Iberostar?
Finn Ackermann: We recently opened a new destination in Aruba just before Christmas, which was a significant project for us. We have two more hotels in Aruba in the pipeline, and we will start building the second one this year, also under the JOIA brand.
In addition, we opened two hotels in Miami, in South Beach, under our Waves segment. This is a major step for us as we return to the U.S. market after a two-year absence.
In Europe, we are opening Iberostar Selection Es Trenc in Palma, Mallorca—145 rooms and suites, five stars, all with sea views. It’s a stunning location. In Tunisia, we have taken over the management of Selection Mirage in Hammamet, which was previously a Club Med and later run by the owners.
Hospitality ON: So you’re betting on Tunisia?
Finn Ackermann: Yes, definitely. We have grown from five hotels three years ago to eight now. Tunisia is a strong market for us, and we’ve had excellent results, making many hotel owners eager to work with us. As a family business, we can be selective in our expansion since we don’t have numerical pressures to meet a certain number of openings each year.
Hospitality ON: Are there any other regions you are targeting for expansion?
Finn Ackermann: We are actively working on projects in Mexico, particularly in the Cancun area, and we have two projects in the pipeline on the Pacific coast. We are also considering Asia. Two years ago, this would have been out of the question, but now we are seriously exploring opportunities, particularly through asset-light models like management agreements. We need to be thoughtful about the right opportunities and partners.
Hospitality ON: You have strong competition in Asia, with Minor Hotels and other established players.
Finn Ackermann: Absolutely. That’s why we must be selective. We have some ongoing negotiations and promising projects, but we need to ensure they align with our strategy. Africa is also on our radar, beyond North Africa where we are already present. We are looking at opportunities further south and in the east.
Hospitality ON: Can your existing customer base help you enter new destinations?
Finn Ackermann: Yes, and that’s part of our selectiveness. We target destinations where we already have expertise in the feeder markets. For example, we wouldn’t go to a remote place in Laos where we lack market knowledge. Instead, we focus on mature markets where our partners are already active.
Our alliance with IHG is also a major advantage. Iberostar is strong in all-inclusive beach resorts, while IHG brings a different customer base with a strong footprint in the U.S. and Asia. This combination strengthens our expansion strategy.
Hospitality ON: How is Iberostar advancing in sustainable development?
Actions focused on the Environment
- One of the first steps was the elimination of guest-facing single-use plastics in all its hotels by the end of 2020.
- We reduced 56% of our waste sent to landfill in 2023 compared to our 2021 baseline, achieving a rate of 0.69kg of waste per stay.
- Iberostar grew its 3R department to 250 people, a global team working towards the goal of eliminating waste sent to landfill.
- Globally, 90% of the seafood served is responsibly sourced and 100% in Mexico.
- We have a multinational reef restoration program across the Caribbean with eight coral nurseries underwater: 4 in the Dominican Republic, 3 in Mexico, and 1 in Jamaica.
- Three coral labs on land study how we can protect corals against climate.
- Industry’s most ambitious decarbonization roadmap, setting a target of carbon neutrality by 2030, which is not only 20 years ahead of the industry’s global target but also endorsed by the Science-Based Targets initiative (SBTi).
Example: Electrification
- In 2024, we completed the commissioning of three 100% electric hotels in Montenegro and three in Spain (Iberostar Waves Cristina, Iberostar Selection Playa de Palma, and Iberostar Waves Gaviotas Park).
- By the end of the year, we conducted the electrification of the new hotel JOIA Aruba in Eagle Beach and JOIA Paraíso in Mexico as well as the partial electrification of Iberostar Selection Lanzarote Park and Iberostar Headquarters.
- Renewable electricity: 100% of the electricity in our hotels in Spain and our hotel complex in Brazil is renewable.
Finn Ackermann: We are expanding our Wave of Change initiative, incorporating new social responsibility pillars. We’ve long been leaders in environmental protection—working toward carbon neutrality, electrifying hotels, and improving waste management. Now, we are consolidating these efforts under a broader sustainability strategy.
Finn Ackermann: We are expanding our Wave of Change initiative, incorporating new social responsibility pillars. We’ve long been leaders in environmental protection—working toward carbon neutrality, electrifying hotels, and improving waste management. Now, we are consolidating these efforts under a broader sustainability strategy.
Hospitality ON: How do you position Iberostar as an employer brand?
Caring for our People
- As a family-owned company with over 37,000 employees, we strive to create a happy, open, and positive work environment, promoting diversity and inclusion.
- At Iberostar, we value internal promotion.
- With 24.4% of job vacancies filled internally in 2023, the company recognizes the dedication and merit of employees.
- We launched the first edition of the “Iberostar Hotel Leadership Program,” a training program for 32 hotel managers and assistant managers from 8 countries.
- Key Project: Dual Vocational Training (FP Dual): In collaboration with the governments of Spain and Mexico, this program prepares students for the labor market by combining theoretical training with practical experience. Over 200 young professionals will have been trained by the end of 2024.
Finn Ackermann: We have a strong employer brand. For instance, in Aruba, we expected recruitment challenges due to a limited local workforce, but we received three times the number of applications we needed. This reflects our reputation and the growing interest in working for a company with a strong sustainability focus.
Finn Ackermann: We have a strong employer brand. For instance, in Aruba, we expected recruitment challenges due to a limited local workforce, but we received three times the number of applications we needed. This reflects our reputation and the growing interest in working for a company with a strong sustainability focus.
People, especially younger generations, seek purpose in their jobs. Many job applicants tell us they choose Iberostar because they want to contribute to a greater cause beyond just hospitality.
We also run professional training programs, combining university studies with practical experience. These are well established in Spain and Mexico, and we plan to expand them to more countries.
Hospitality ON: Are you collaborating with IHG on training programs?
Finn Ackermann: Operationally, we remain separate from IHG in terms of staffing. However, we exchange best practices and ideas. There may be future collaborations, but for now, we operate independently.
Hospitality ON: Iberostar has grown steadily but selectively. What’s your long-term vision?
Finn Ackermann: Last year was a record year for us, Iberostar Hotels & Resorts recorded 2,180 million euros in revenue, marking an 8% increase compared to the previous year. We plan to open five new hotels in 2025 with an investment of approximately 210 million euros in new projects and asset transformation. Our focus is on increasing margins and improving results rather than expanding just for the sake of numbers.
Unlike public companies that must show aggressive expansion plans to the market, we have the freedom to grow at our own pace. Our focus is on long-term profitability, selecting the right locations and partners instead of rapid, unsustainable growth.
Hospitality ON: Any final thoughts?
Finn Ackermann: Iberostar is committed to sustainable, high-quality expansion. We remain selective, ensuring every move aligns with our brand values, long-term vision, and profitability.
