Updated
Updated · Bloomberg · Jun 3
Melía Exits 15 Cuba Hotels as Raúl Castro Turns 95 Under US Pressure
Updated
Updated · Bloomberg · Jun 3

Melía Exits 15 Cuba Hotels as Raúl Castro Turns 95 Under US Pressure

3 articles · Updated · Bloomberg · Jun 3

Summary

  • Melía Hotels International said it will pull its brands from Cuba and immediately terminate operating agreements covering 15 properties.
  • The Spanish hotel group cited Cuba's geopolitical, social, legal and economic context, a move that comes amid mounting US pressure on companies operating there.
  • The exit adds to a broader corporate pullback from Cuba and lands on Raúl Castro's 95th birthday, underscoring the island's worsening business climate.

Insights

Caught between US sanctions and Cuban partnerships, are foreign firms now facing an impossible choice in the global market?
With its tourism lifeline severed by US sanctions, how can Cuba's economy avert a total collapse?
Amid a deepening humanitarian crisis, can upcoming US-Cuba talks offer a diplomatic off-ramp?