Cuban tourism hit as Spanish hotel chains withdraw under US sanctions

The United States' executive order requiring foreign companies to cut ties with Cuba's state‑run conglomerate GAESA took effect on 5 June, forcing a rapid retreat of international firms from the island. Spanish hotel groups Meliá and Iberostar announced the loss of 15 of Meliá's 34 hotels and a reduction of Iberostar's portfolio to six properties, while other operators such as Blue Diamond, Archipelago International, Visa, Mastercard and airlines Air France and Turkish Airlines also ended Cuban operations. The exodus leaves Air Europa as the only Spanish airline still serving Cuba.

The sanctions cripple Cuba's tourism sector, which has already seen a 55.8% drop in international arrivals between January and April compared with the previous year, with only about 30,000 visitors in April. Meliá reported that its Cuban hotels generated €12.7 million in revenue (0.6% of its total) and Iberostar €9.75 million. Spanish investment in Cuban hospitality since 1993 totals €465 million and covers roughly 30,000 rooms, underscoring the scale of the financial loss.

Cuban authorities confirm that Visa and Mastercard have ceased all transactions on the island, further limiting the flow of external funds. The combined effect threatens thousands of jobs and a vital source of foreign currency for Cuba.