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

Marriott International Names Liam Brown President and Managing Director of Europe

Owned by Beaverton TP Ops and Managed by Escape Lodging, New TownePlace Suites by Marriott Portland Beaverton Set to Open in Oregon

New Courtyard by Marriott Set to Open in Southington, Connecticut Led by General Manager Ina Gallant

Melissa Oliver Joins Marriott Syracuse Downtown as Director of Sales and Marketing

JAM Hospitality Opens Four Points by Sheraton Greensboro Airport in North Carolina Following Conversion

Marriott International and Eagle Hills Sign St. Regis Tamuda Bay Slated to Open Mid-2020

Amy McPherson, Marriott’s President and Managing Director of Europe, to Retire

Owned and Managed by Tharaldson Hospitality Management, Residence Inn by Marriott Set to Open in Sparks, Nevada

Heritage Hospitality Management Opens 98-Room Fairfield Inn & Suites by Marriott in Staunton, Virginia

Autograph Collection Hotels to Welcome Sankara Nairobi Marking the Debut of the Brand Into Kenya

Continental Real Estate Developers and Affiliates of Concord Hospitality Enterprises Set to Open New Dual-Branded SpringHill Suites and TownePlace Suites in Columbus, Ohio

Luckey’s Management Opens SpringHill Suites by Marriott in Miramar, Florida

Marriott International Expects to Expand Its Portfolio in the UAE to More Than 80 Hotels by 2023

Owned and Managed by Oceangate Investments, TownePlace Suites by Marriott Opens in Kingsville, Texas

Fairfield Inn & Suites by Marriott Opens in Nashville, Tennessee With General Manager Maisa Palacios at the Helm

Developed by Eagle Hills Jordan, 207-Room Al Manara, a Luxury Collection Hotel, Saraya Aqaba Opens in Jordan

Marriott Plans Expansion Across Africa With Five New Signings in Ghana, Kenya, Morocco, South Africa and Mozambique

Evolution Hospitality Appoints Murray Lowe as General Manager of Westin Resort & Spa, Whistler

Lightstone Celebrates Topping Out of 286-Key Moxy Hotel in Manahattan's East Village

Marriott International & White Lodging Reveal Plans for New Autograph Collection Hotel & AC Hotel by Marriott® in Austin, Texas

All News »

Please login or register to post a comment.