Meliá Hotels International open its first Cuban hotel, the Sol Palmeras, more than a quarter of a century ago. Since its opening, Meliá has continued to develop hotels through a successful formula based on joint venture investments with the Cuban government. Today it is the largest foreign hotel operator in Cuba. Last year, at an … Read more
United Airlines submitted an updated filing with the U.S. Department of Transportation (DOT) for authority to begin commercial air service to Cuba from its gateways in Newark/New York, Houston, Washington and Chicago to Havana’s José Martí International Airport in Cuba. According to a press release, United says its proposal for nonstop service to Havana from … Read more
It is vital for Cuba develop its travel and tourism sector. The communist island nation is struggling with the decline and expected loss of much of the benefits it has received from its economic and ideological relationship with Venezuela. 25 years ago, Cuba almost collapsed when the Soviet Union folded and withdrew all its economic … Read more
Last week, the Obama administration announced two major hotel brands will seek to do business in Cuba. White House officials expressed hope these deals would come together before Mr. Obama arrives in Havana March 20. Marriott CEO Arne Sorenson, vice chair of the President’s Export Council, will travel to Cuba with Mr. Obama. “We are … Read more
Remittances play an important role in Cuba’s state-controlled economy, with a significant portion (an estimated $2 billion annually) coming primarily from family members in the United States. In January 2015, the United States announced regulatory changes that, among other things, increase purposeful travel to Cuba; raise remittance levels from $500 to $2000 per quarter for … Read more
Few things symbolizes Cuba’s special place in the world more than rum. It all started nearly 200 years ago when Facundo Bacardí Massó came to Cuba from Spain in 1830 and began to experiment with ways to refine rum. Today, Bacardi is no longer in Cuba, and a trademark dispute makes Bacardi’s future in Cuba … Read more
Every year Cuba’s Ministry of Foreign Trade and Investment prepares a tome of investment opportunities available to foreign investors. The recently published 2015 Portfolio of Opportunities for Foreign Investment offers insights into the priorities and limitations for foreign investment from Cuba’s point of view. Some historical context may be helpful in understanding the purpose of … Read more
At a conference of the American Coalition of Agriculture to Cuba on Thursday, U.S. Secretary for Agriculture Tom Vilsack indicated plans to open an office in Cuba to promote trade. “There are a number of preliminary matters that have to be addressed before trade can be re-opened and before the embargo is lifted,” according to … Read more
It is no secrete that Cuba’s future economic development plans includes a focus on travel and tourism. Current US rules have so far restricted US firms from doing business in Cuba. Although Obama has loosened some restrictions, the travel and tourism sector remain off limits for US-based firms. Recently, Choice Hotels’ Steve Joyce visited Cuba. … Read more
According to Reuters, France is expected to sign a deal offering more debt relief to Cuba during Raul Castro’s five day trip to Paris. Mr. Castro’s visit, which begins on Saturday, is the first trip of a Cuban head of state since his brother, Fidel Castro, visited France in 1995. Half of the outstanding arrears … Read more
