Trump sanctions Cuba's Tourism Ministry: another blow to the sector
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The White House is at it again. According to Hosteltur, the Trump administration has sanctioned Cuba's Ministry of Tourism (Mintur), the main driver of the island's travel industry and owner of hotel chains Cubanacán, Gran Caribe and Islazul. This is the second blow in months: first came GAESA, the military-run conglomerate.
This is no mere political gesture. Mintur controls the bulk of the country's hotels. Spanish chains like Meliá, Iberostar and Blue Diamond manage many of those properties. Now they are stuck in the crossfire. My take: this could trigger a foreign capital retreat or force a major contract overhaul. Anyone exposed there should start renegotiating or look to the Dominican Republic or Mexico. The big question: can Cuba's tourism survive without private investment?
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