Marriott International revealed that the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury approved its application to pursue a business transaction in Cuba, though it has not said what opportunities it is pursuing, only that it is in discussions 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 CEO Arne Sorenson traveled with U.S. Commerce Secretary Pritzker during the President's visit to Cuba.
“We have long been convinced that with the right frameworks in place, new economic opportunities, including dramatically expanded travel, abound in Cuba,” Sorenson said. “These could deliver real benefits to the Cuban people and also [bring] Americans and Cubans closer together."
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 supporting opportunities for Cuba’s varied communities.
