Cuba to build the largest tourist facility in the Caribbean

Cuba to build the largest tourist facility in the Caribbean
Published on June 23, 2016

HAVANA, Cuba (ACN) -- Cuba will sign a contract for the creation of a
joint venture this year directed at the development of a golf complex in
the province of Pinar del Rio that will be upon completion one of the
largest in Latin America and the Caribbean.

Yuslenia Saumell, business specialist at the tourism ministry, said that
before the end of the year they will iron out the proposal with the
Spanish company that will execute the works alongside its Cuban
counterpart in the Punta Colorada project.

She also said that a similar project in El Salado, which is part of the
Mariel Special Development Zone, is also in its final approval stage.

Created with the Chinese Beijing Enterprises Holdings Limited company
and the British Essence Hotels and Resorts, there are currently two
joint firms for the construction of the site associated with golf
courses in Bello Monte in Havana and in Varadero resort.

During the International Seminar of Tourism Journalists underway in
Havana, with the participation of reporters from 12 countries, the Cuban
specialist explained that until now there are over 60 foreign investment
projects under negotiation.

Saumell added that new hotel management contracts are expected to be
signed his month with Spain and Canada.

She added that there are talks underway with other markets like the
United Arab Emirates and China that are interested in exploring
investment opportunities in Cuba's tourism industry.

Among the recent events, she highlighted the signing of two contracts
with the US Starwood group belonging to the Marriott hotel chain for the
management of the Inglaterra and Quinta Avenida Hotels, both in Havana.

The Cuban tourism ministry has a portfolio that includes 127 projects,
of which 25 are for the construction of hotels, 97 for hotel management,
with or without foreign financing, and five dedicated to marinas.

There is a program for the construction of 108,000 new rooms, of which
30,000 will be financed with foreign capital from now to 2030.

The foreign investment law was reformed and the business opportunities
for tourism were expanded. Tourism is one of the most dynamic sectors in
the country and the second source of hard currency for the economy.

The seminar, which concludes on Friday, promotes exchanges among over 50
professionals from Cuba, United States, Chile, Colombia, Argentina,
Ecuador, Nicaragua, Panama, El Salvador, Uruguay, Peru, Dominican
Republic and, for the first time, Russia.

Source: Cuba to build the largest tourist facility in the Caribbean |
Caribbean News Now -
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