Spanish hotel chain pulls out of Cuba amid geopolitical tensions — Reuters
The Spanish hotel group Melia has officially announced the immediate suspension of management, marketing, and brand services for 15 hotels in Cuba.
The company’s management cites the rapid deterioration of the geopolitical, legal, and economic situation on the island as the main reason for this radical decision.
This move comes amid increasing pressure from the administration of U.S. President Donald Trump on Cuba.
The White House is actively using the oil embargo and tougher sanctions in an attempt to cut off resources and force the country’s government to step down.
Melia, one of the largest foreign hotel operators in Cuba, has had a significant presence on the island since 1990.
Company representatives said they notified hotel owners of their decision on May 26, and official confirmation was published on Wednesday.
All of the properties in question were managed through the Portuguese subsidiary Ilha Bela Gestao E Turismo.
In regulatory filings, the Spanish company noted that the withdrawal of funds was caused by a “combination of unforeseen circumstances” beyond Ilha Bela’s control that “significantly affected the viability, legality, and safety of continuing operations.”
Although Cuba has long been one of Melia’s largest markets in terms of the number of properties, its financial contribution to the company has sharply declined.
This was reported by Reuters.
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