As Cuba continues to plunge into the crisis due to the oil crisis and reinforced economic sanctions by the United States, Meliá Hotels International is the latest international company to reduce its presence in the country.
The latest round of US sanctions signed by an executive order from U.S. president Donald Trump, freezes foreign companies’ assets, seizes their US accounts, and prohibits travel for shareholders, investors, and employees.
Explaining “the evolving geopolitical, social, legal, and economic environment in the Republic of Cuba”, Meliá Hotels International announces that, as part of its ongoing and rigorous risk assessment process, it has taken the decision to immediately cease the provision of management and commercialization services, as well as the licensing of its hotel brands, in relation to 15 hotels located in the country:
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Gran Hotel Bristol Habana Vieja Member of The Meliá Collection
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INNSiDE Catedral Habana
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Meliá Buena Vista
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Meliá Cayo Santa María
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Meliá Jardines del Rey
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Meliá Las Dunas
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Meliá Península Varadero
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Paradisus Los Cayos
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Paradisus Princesa Mar
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Paradisus Río de Oro
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Paradisus Varadero
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Sol Caribe Beach
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Sol Cayo Santa María
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Sol Río de Luna y Mares
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Sol Varadero Beach
This decision, which had previously been communicated to the respective ownership entities on May 26 and is formally confirmed on June 5, has been adopted under a strong commitment to responsible business conduct. It reflects a combination of external circumstances beyond Meliá’s control, which have materially affected the operational, legal, and security conditions necessary to ensure the proper delivery of services at these properties.
The overall impact of this decision is limited, as the majority of the hotels listed are currently non-operational due to ongoing energy constraints and reduced demand affecting the Cuban market. Notwithstanding this, the Company is implementing specific action plans to ensure an orderly and structured disengagement process. In parallel, appropriate communication protocols are being activated to ensure transparent and timely information is provided to all suppliers, partners, and customers.
Meliá Hotels International reiterates its commitment to maintaining the highest standards of operational integrity and will continue to closely monitor the situation to reassess its future position in the destination.
