The Office of Foreign Assets Control of the U.S. Department of the Treasury approved Marriott International’s application to begin business in Cuba. With this green light, Marriott is in discussions to develop a relationship with potential partners.
The announcement was made during President Obama’s recent trip to Cuba. Arne Sorenson, Marriott’s president and CEO, traveled to Cuba with U.S. Commerce Secretary Pritzker during the President’s visit.
“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,” Sorenson said. “These could deliver real benefits to the Cuban people and also have the effect of bringing both Americans and Cubans closer together.”
Marriott’s objective is to provide hospitality training for Cuban nationals, help generate new economic opportunities for businesses in the hospitality industry, as well as support opportunities for youth, women and other communities in Cuba.