It's not a thermostat issue, they are fully open above 208 degrees which is a sweet spot for making good power, opening sooner means you're heat soaking all of your coolant sooner also. HS doesn't allow improved radiators.
Factors are not holding full pressure (cracks in the lines or seals, or filler cap, schrader, etc), air in the system, not enough cool down between runs, and heat soak. The last two means as soon as you pull back on grid, prop the hood open, and you can spray down the engine with a mist of water from a sprayer if you want. Coolant can be changed, so you can use 75% distilled water instead of 50% as water has more heat dissipating capacity than glycol, and water wetter helps. Also make sure your coolant is serviced cap is tight and system holds pressure, and your always above the MIN line. Another thing to look at, is to make sure your fins are in good shape, not using AC that day until after the event, and baffling is properly in place. Oil also should be fully serviced with high quality stuff as one of the functions is cooling... also thicker than specified oil is less effective at cooling BTW. Lastly you can run the heater full blast directed out the windows if you're hitting over 230.
These engines seem to be prone to steam pockets in my opinion, and I think have a weak cooling system in general which certainly is a liability. One way to address these is drain all fluids, and service with 100% coolant (no water) and get it circulating well through the heater core, etc. then drain all of it, drain the reservoir, and service with EVANS waterless coolant, bleeding the system thoroughly at the schrader.. EVANS doesn't boil or create any pressure (until well above $350 degrees) so it is excellent for protecting the engine with a fragile cooling system. If there's any water left, you can very carefully remove the cap when it's up to temp and above boiling 212 degrees (without pressure that's where it boils) and any water will steam off. EVANS is expensive so a poor man's version is pure food grade Propylene Glycol (they add these to brownies and cookies to keep them moist) as it's about 1/2 the cost of EVANS. Problem with EVANS is that has less heat capacity then water, so the engine will run 3-4 degrees hotter under the same conditions, but it's very safe in an overheated condition if you often get there anyway. Some engines you can remove the reservoir alltogether as there is no pressure in the system once the water is removed (Fiesta is not one as coolant circulates through the turbo and into the res). Most ultra-high performance engines are designed to run at very high coolant temps, and most NA stuff makes the most HP on my dyno when it's at the verge of over heating (230-235 range, if it's on EVANS I let it get higher if the ECU is programmed to allow it)... The Ducati 1098R with aftermarket ECU and no radiator fan is fine at 240+ and runs great... BUT forced induction engines can benefit from running cooler temps as every time you're on the power, heat soak will be a reduction, and lower operating temps will give you more heat soak margin. My M5 V10 is mildly supercharged (only about 7 psi) so it benefits from a cooler 180 thermostat where as NA it certainly makes more power above 210... Evans coolant for the engine, and Engine Ice (whith is similar but with water added) for the heat exchanger. I believe Jay Leno has EVANS in all of his cars, as water/coolant is a little bit corrosive otherwise, and some older cars are very susceptible to cooling system issues. Anyway, point is it's not a fix all for the Fiesta especially with an enhanced turbo, but I have it in both cars and they are very well behaved with regards to cooling.