U.S. Clears Marriott to Engage in Business Development in Cuba
March 21, 2016 11:44am
Company in Discussions to Pursue Hospitality Agreement
BETHESDA, MD and HAVANA, CUBA, March 21, 2016 – Marriott International, Inc. (NASDAQ:MAR) said today that the the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has approved Marriott International’s application to pursue a business transaction in Cuba, and that the company is in discussions to develop a hospitality relationship with potential partners. The announcement was made during President Obama’s historic trip to Cuba, marking the first time in more than 80 years a sitting U.S. president has visited the country. Marriott President and Chief Executive Officer Arne Sorenson is traveling with U.S. Commerce Secretary Pritzker during the President’s visit to Cuba.
Marriott’s objectives in Cuba include entering the hospitality sector with Marriott brands, providing hospitality training for Cuban nationals, helping to generate new economic opportunities for businesses supplying the hospitality industry, and as a corporate citizen, supporting opportunities for youth, women and other communities in Cuba.
Mr. Sorenson said, “We are gratified to receive permission from the U.S. government to pursue business opportunities in Cuba. While there is still work to do before any agreement is reached, we are actively pursuing relationships in the hospitality sector. We have long been convinced that with the right frameworks in place, new economic opportunities, including dramatically expanded travel, abound in Cuba. These could deliver real benefits to the Cuban people and also have the effect of bringing both Americans and Cubans closer together.”
marriott international, inc.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,400 properties in 87 countries and territories. Marriott International reported revenues of more than $14 billion in fiscal year 2015. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, Bulgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and Moxy Hotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together comprise nearly 55 million members. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.
Contact: Tom Marder
Contact: Felicia McLemore
Fairfield Inn & Suites Grand Mound Centralia Opens in Rochester, Washington with General Manager Curtis Crimmins at the Helm
Owned by Dreamcatcher and Managed by Sun Capital Hotels, Fairfield Inn & Suites by Marriott Now Open in Albuquerque, New Mexico
Owned by Starwood Capital and Managed by Aimbridge Hospitality, Courtyard by Marriott Opens in Woodbury, Minnesota
Aramark Completes Purchase of Avendra for $1,350 Million
SSN Hotels Opens 111-Suite Residence Inn by Marriott in Collegeville, Pennsylvania
Owned and Managed by Stonebridge Companies, Residence Inn by Marriott Set to Open in Downtown Seattle
Michael Lamey Named Director of F&B at Fort Lauderdale Marriott Harbor Beach Resort & Spa
Hotel Development Partners Celebrates Grand Opening for Residence Inn Atlanta Perimeter Center Dunwoody
New 116-Suite Residence Inn by Marriott Set to Open in Littleton, Colorado Led by General Manager Steve Ryan
OTO Development Unveils Plans for 219-Room AC Hotel by Marriott in Bethesda, Maryland
Hotel Equities to Manage Courtyard North Brunswick and Spring Hill Suites Woodbridge in New Jersey
The Luxury Collection Signs with The Mori Trust Group for IRAPH SUI, a Luxury Collection Hotel in Okinawa, Japan
Aimbridge Hospitality Opens New 109-Key TownePlace Suites by Marriott in Chandler, Arizona
Dynamic Group Opens New 88-Suite TownePlace Suites by Marriott in Cleveland, Tennessee
NewcrestImage Opens Dual-Branded AC Hotel and Residence Inn by Marriott in Downtown Dallas Historic Mercantile Commerce Building
LBA Hospitality Partners with Details Hotel Group to Manage Fairfield Inn & Suites Houston Pasadena
Owned and Managed by Hawkeye Hotels, New Fairfield Inn & Suites Set to Open in Coralville, Iowa
Owned and Managed by Concord Hospitality, New Courtyard by Marriott Houston Intercontinental Airport Opens in Texas
North Point Hospitality Celebrates Topping Out on First Tri-Branded Marriott Hotel in the US
Owned and Managed by Woodbury Corporation, SpringHill Suites By Marriott in Idaho Falls, Idaho Opens
Please login or register to post a comment.