Continuing its trajectory of rapid global growth and creating opportunity, Marriott International said earlier it expects its portfolio of hotels either open or under development to surpass one million rooms by the end of 2015.

Iberostar Hotels & Resorts has opened its first hotel in Madrid; the Iberostar Las Letras Gran Vía. The 103-room, four star hotel forms part of the company’s premium category. The eye-catching building proved crucial in the Majorcan company’s decision to choose it for its first venture in to Madrid.

The signing of two management contracts by a subsidiary of WIH with Grupo Gaviota, owners of a new 800-key resort in Cayo Santa Maria as well as of the former Allegro Varadero marks a major step in the WIH expansion.