US Orders Marriott Hotels to Withdraw from Cuba

[Asia Economy Reporter Ki-min Lee] Marriott Hotels, which entered Cuba during the Barack Obama administration, is withdrawing after four years.

AFP reported on the 6th that Marriott received an order from the U.S. Department of the Treasury on the 5th (local time) to cease operations at the Four Points by Sheraton hotel in Havana, the capital of Cuba, by the end of August this year and not to open additional branches within Cuba.

A Marriott spokesperson stated, "We recently received notice from the government that our license will not be renewed," adding, "We have no choice but to cease our business operations in Cuba." Marriott first entered the Cuban market in 2016 during former U.S. President Obama's administration and renewed its operating license in 2018.

Previously, the U.S. had banned trade with Cuba in 1962, but relations between the two countries improved during the Obama administration. However, the Donald Trump administration strengthened economic sanctions against Cuba and suspended or withdrew agreements made during the Obama era.

On the 3rd, the U.S. Department of State added seven Cuban companies, including the remittance payment company Fincimex, to the sanctions list.