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
Owned and Managed by PeachState Hospitality, Courtyard by Marriott Dallas Downtown/Reunion District Opens in Texas
Vail's Hotel Talisa Joins The Luxury Collection Following $65 Million Renovation and Rebranding
Owned and Managed by Buffalo Lodging Associates, Residence Inn by Marriott to Open in Buffalo, New York
Strand Hospitality Set to Open 90-room Fairfield Inn & Suites by Marriott in Crestview, Florida
Woodbine Legacy Investments Launches $20 Million Phased Renovation of W Atlanta-Buckhead
Flag Luxury Group and Marriott Celebrate Groundbreaking of $500 Million Ritz-Carlton New York, NoMad in Manhattan
First Opened in 1847, Alabama's Grand Hotel Golf Resort & Spa Completes Three-Year Transformation and Joins Autograph Collection Hotels
The SLS Hotel, a Luxury Collection Hotel, Beverly Hills Completes $22 Million Renovation
Owned and Managed by Sterling Hospitality Management, Fairfield Inn & Suites by Marriott Spokane Valley Opens in Washington
Horizon Hospitality Management Opens New 82-Room SpringHill Suites by Marriott in Ringgold, Georgia
Lodgic Hospitality to Break Ground on New Element by Westin in Irving, Texas
TNB Hotels Opens Four Points by Sheraton Salt Lake City Airport
Vail Marriott Mountain Resort Launches $25 Million Renovation
Owned and Managed by Kinseth Hospitality Companies, TownePlace Suites by Marriott Set to Open in Grafton, Wisconsin
Marriott Signs With Flag Luxury Group to Open More Than $500 Million Ritz-Carlton Hotel and Residences Tower in New York City
Owned and Managed by Glacier House Hotels, TownePlace Suites by Marriott Whitefish Opens in Montana
Ian Schrager With Marriott International Opens The Bodrum EDITION Overlooking the Aegean Sea
Starwood Capital Group and Cycas Hospitality Open 319-Key Residence Inn by Marriott London Kensington
Christian Metzner Appointed General Manager of W Kuala Lumpur
Marriott International Launches Tahseen Hospitality Training Program in Partnership With Helwan University and PDF
Please login or register to post a comment.