The current energy crisis in Cuba has not only brought hotels to a halt and forced airlines to refuel outside the country, but it has also raised alarms within the Spanish hotel industry. This sector is watching with growing concern as Cuba's economic decline intertwines with a political landscape that could potentially affect their interests.
Major Mallorcan hotel chains, such as Meliá and Iberostar, are heavily invested in Cuba, managing over fifty hotels. However, the recent closures as part of the Cuban authorities' "compaction" plan, combined with a shortage of fuel for commercial aviation, have heightened a sense of vulnerability.
Adding to this, airlines like Air Europa, Iberia, and World2Fly have opted to refuel in the Dominican Republic to sustain their routes to Havana. Publicly, the message is one of continuity—"We have no intention of leaving Cuba"—yet privately, the industry admits to closely monitoring the situation with extreme caution.
Washington's pressure on the Cuban regime, set against a backdrop of negotiations and a redefining of relations under the Trump administration, adds another layer of complexity: the fear that any political reorganization or bilateral agreement could impact foreign assets on the island.
"I don't think they'll take away their hotels, maybe just one or two...," remarked sources in the sector to Diario de Mallorca, echoing a mix of confidence and worry.
The potential for the regime to use economic concessions as bargaining chips or to realign strategic alliances keeps Spanish operators, who have invested in the Cuban market for decades, on edge.
Meanwhile, the collapse of the tourism sector is undeniable. The cancellation of flights from Canada—the primary market—and a continued decline in visitors exacerbate financial pressures.
Although urgent evacuations aren't anticipated and tourists are completing their stays, the high season is unfolding with reduced occupancy rates. The Spanish hotel industry is holding on, but it now faces not only power outages and fuel shortages but also geopolitical uncertainty that could redefine its presence on the island in the coming months.
Challenges Facing Spanish Hotels in Cuba
What is causing concern for the Spanish hotel industry in Cuba?
The Spanish hotel industry is concerned due to Cuba's energy crisis, economic decline, and political uncertainty, which together threaten their operations and investments on the island.
How are airlines adjusting their operations in response to the crisis in Cuba?
Airlines such as Air Europa, Iberia, and World2Fly are refueling in the Dominican Republic to maintain their flight routes to Havana, circumventing fuel shortages in Cuba.
What are the implications of Washington's stance on Cuba for the Spanish hotel sector?
Washington's pressure on the Cuban regime and potential political changes could impact foreign assets, including Spanish hotels, creating additional risk and uncertainty.