Cuba loses Spanish hotel investment due to US pressure
Cuba was always a priority destination for major Spanish hotel chains. They started their global expansion there hand in hand with Cuban government companies. But the picture is shifting.
According to Hosteltur, US pressure, sanctions, legal threats, fear of being locked out of the American market, is causing Spanish chains to curb their appetite on the island. Cuba is losing Spanish hotel muscle. And the chains are losing their third international destination.
My take: this is a strategic shake-up. Spanish companies have been Cuba's main hotel partner for decades. If they pull back, who fills the gap? Turkey, China, Russia? On the flip side, whoever holds ground can play the future recovery card when (and if) Cuba-US relations thaw. Meanwhile, the island gets less foreign investment and less room renovation. It's not the end of the road, but a hard stop.
Quick questions
Why is Cuba losing Spanish hotel investment?
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