Close

Cart

Total $0.00

Checkout

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.”

About 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

thomas.marder@marriott.com / (301) 380-7770

Contact: Felicia McLemore

Felicia.McLemore@marriott.com / (301) 380-2702

Related News

Phoenix American Hospitality Adds Florida Hotel to Portfolio: Residence Inn by Marriott Cape Canaveral Cocoa Beach

Aloft Kuala Lumpur Sentral Appoints Rubel Miah as New General Manager

Hotel Equities and Virtua Partners Close on Fairfield Inn & Suites by Marriott in Colorado Springs

Welcome Group Plans Late Spring Opening of AC Hotel Los Angeles South Bay

Owned by Sunny Investment Properties LLC & Development, the Residence Inn Tulsa Midtown Opens

Maria Florencia Arenaza Appointed General Manager of Los Sueños Marriott Ocean & Golf Resort, Costa Rica

Marriott Expands Across Africa With Hotel Signings in Morocco, Ghana and Liberia

Woodbine Legacy Investments Completes $20 Million Renovation of W Atlanta-Buckhead Led by General Manager Robert Woolridge

Marriott Appoints Jerome Briet as Chief Development Officer for Middle East and Africa

PHI Hotel Group and Siksika Resource Development Open Three Marriott Branded Hotels in the Province of Alberta

Lodging Dynamics Hospitality Group Set to Open New 128-Room Fairfield Inn & Suites by Marriott Denver West Federal Center in Lakewood, Colorado

JW Marriott Debuts in Northeast China With the Opening of JW Marriott Hotel Harbin River North

Auro Hotels Set to Open Dual-Branded Residence Inn and SpringHill Suites Hotel to Open in Greenville, SC

Idu Ribeiro Appointed General Manager at Panama Marriott Hotel, Panama

Marriott International Introduces Marriott Bonvoy – the New Brand Name of Its Loyalty Program

PeachState Hospitality Has Been Awarded Developer of the Year by Marriott International

Marriott Provides Update on Starwood Database Security Incident

TownePlace Suites by Marriott Opens in Clarksville, Tennessee Led by General Manager Joshua Castle

Hospitality Development Co. Opens Courtyard by Marriott in Bowie, Maryland

Owned and Developed by Amdec Group, the 188-Room AC Hotel Cape Town Waterfront Opens

All News »

Please login or register to post a comment.