With Cuban tourism on the rise, hotel companies are quickly taking interest in new developments on the island.
Ahead of the pack is a partnership between Suntine International-Economic Trading Company of China and Cuba’s Cubanacan hotel group. Last year, the two announced that they were partnering to build a new 600-room Hemingway Hotel at the Hemingway Marina, located west of Havana. The Chinese investor will provide $150 million for the project and will have 49% ownership, while Cubanacan will have 51% ownership and be responsible for providing the land and other resources.
British developer London & Regional also plans to build a half-billion-dollar Carbonera resort about 60 miles north of Havana, according to Curbed. The resort would include more than 1,000 villas and condos and golf courses. Three major U.S. corporations— AT&T Inc., Starwood Hotels and Resorts Worldwide Inc. and Marriott International—are also expected to announce agreements with Cuban government-run entities some time in the next couple weeks around the same time President Obama visits the island on March 20.
Cuba already announced a 14.6 percent growth in leisure travel in the first 71 days of 2016, according to official figures from the Cuban Ministry of Tourism. It is already on pace to eclipse last year, which saw a record 3.5 million tourists visit.