This Resort Company Is Spending €1 Billion — and a Jamaica Favorite Is Getting Gutted for It

Iberostar Hotels & Resorts is working through a €1 billion investment plan running to 2028, and one of the most visible projects this year is in Jamaica. JOIA Rose Hall by Iberostar is undergoing a full renovation from June through November 2026, closing to reemerge as a more upscale property before the winter high season.

The Jamaica overhaul is one piece of a broader portfolio refresh. In Mexico, Iberostar is renovating Iberostar Waves Tucán and Iberostar Waves Quetzal to serve as flagships for its Waves brand in the Americas. The company is also opening two new five-star hotels this year: Iberostar Selection Montenegro, a 290-suite-and-villa resort on Montenegro's southern coast, and Iberostar Selection Zanzibar, its first property in East Africa.

The spending follows a strong year. Iberostar reported 2025 revenue of €5.1 billion, up 14 percent, and closed the year with 100 hotels and more than 33,500 rooms across 14 countries. The U.S. and Canada remain its leading source markets, with Argentina the fastest-growing.

"The 2025 results confirm the strength of a model geared towards profitable growth and a long-term vision," said Sabina Fluxá, vice-chairman and CEO of Iberostar Group. For travelers eyeing Rose Hall this year, the practical takeaway is simpler: check the calendar before booking, because the property will be a construction site for much of it.