Iberostar

Cuba's government is opening hotel management to Cuban investors, both domestic and abroad, following the withdrawal of hotel chains like Melia due to U.S. sanctions. The move aims to address economic challenges exacerbated by the U.S. embargo, which Cuba blames for ongoing crises.

Cuba's government announced it will open hotel management to Cuban investors, both domestic and abroad, following the withdrawal of hotel chains like Melia, Royalton, and Iberostar due to U.S. sanctions. The move comes as tourism declines amid economic challenges linked to the U.S. embargo, with President Miguel Díaz-Canel promoting new business models for hotel operations.

Cuba's Central Bank will suspend transactions with Visa and Mastercard due to U.S. sanctions, while Spanish hotel chain Meliá and others are exiting operations in Cuba linked to Trump's executive order and sanctions against state-connected entities like Gaesa.