And so it begins: American Run Hotels in Cuba

[JerseyG]

http://www.nytimes.com/2016/03/20/world/americas/american-firm-starwood-signs-deal-to-manage-hotels-in-cuba.html?partner=rss&emc=rss

[KB24]

What did you think was gonna happen? It's only the beginning right?

[MPS]

It's going to be a Chinese owned company very soon.

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[Ken Gargett]

i think you'll find there is some chinese investment there already. and significant investment by both canadian and israeli companies.

[El Presidente]

Few (if any) have made a dollar yet dealing in Cuban JV Hotels. I doubt it will change

What better partner to have than the Cuban Govt. Throw in non managerial Cuban staff (85%) and it is a recipe for deep losses.

The day it can become genuinely profitable is when it is legal to pay real wages.

Outside of that, it will be run packaged tours from outside of Cuba (keep your money outside the country) and minimise your losses internally.

[Ken Gargett]

Few (if any) have made a dollar yet dealing in Cuban JV Hotels. I doubt it will change

What better partner to have than the Cuban Govt. Throw in non managerial Cuban staff (85%) and it is a recipe for deep losses.

The day it can become genuinely profitable is when it is legal to pay real wages.

Outside of that, it will be run packaged tours from outside of Cuba (keep your money outside the country) and minimise your losses internally.

yes - i was thinking more general investment rather than specifically hotels.

[Lotusguy]

i think you'll find there is some chinese investment there already. and significant investment by both canadian and israeli companies.

He means that Starwood just accepted a buyout offer from a Chinese investment company.

[Ken Gargett]

He means that Starwood just accepted a buyout offer from a Chinese investment company.

sorry - i really was not very clear all round. understood that. my comment was just meant to be a general 'investment in cuba' comment.

apols for any confusion.

[Corylax18]

Everybody is right. Technically, an "American" company "Starwood" will be the owner and run the show. But China's debt will most likely be financing the operation entirely or partially.

Starwood and Marriott hotels where in talks to merge until 5 days ago, when a Chinese company offered more than 2 billion more than the original offer to purchase the Starwood group.

Anbang Insurance Group, you know what they do? MAKE MONEY. Guess who they already own? Belgian Insurer FIDEA, THE Waldorf Astoria, Several 4 Seasons hotels, and several Weston Hotels. Not to mention their actual business, corporate and industrial insurance in the Chinese market.

China owns the majority of the United States' debt, and therefor the majority of our country (technically) However I would love to see any country try to settle a debt with US. If you wanna see the definition of "Pry it from my cold dead hands" that's exactly what you would get.

So yes, I'ts "all our fault" like always, but lets not forget the the ENTIRE rest of the world has had Unfettered access to Cuba for the last 60+ years and hasn't done **** to help the Cuban people. Obama announces mostly symbolic changes with the country less then 2 years ago and the changes couldn't be happening faster.

If you don't like the way things are going, kick yourself for not taking the initiative over the last 60 years, not us for doing it now.

[Magpie]

communism doesn't work long term and Cuba will have to loosen the purse strings. to start to do that it needs a strong stream of investment, and tourism combined with a softening of US embargo will be a catalyst for change. China is Nothing like it was in the mid eighties, now more billionaires than any where else. I think this is the start of huge change in Cuba that hopefully economically benefits its people.

[CaptainQuintero]

Everybody is right. Technically, an "American" company "Starwood" will be the owner and run the show. But China's debt will most likely be financing the operation entirely or partially.

Starwood and Marriott hotels where in talks to merge until 5 days ago, when a Chinese company offered more than 2 billion more than the original offer to purchase the Starwood group.

Anbang Insurance Group, you know what they do? MAKE MONEY. Guess who they already own? Belgian Insurer FIDEA, THE Waldorf Astoria, Several 4 Seasons hotels, and several Weston Hotels. Not to mention their actual business, corporate and industrial insurance in the Chinese market.

China owns the majority of the United States' debt, and therefor the majority of our country (technically) However I would love to see any country try to settle a debt with US. If you wanna see the definition of "Pry it from my cold dead hands" that's exactly what you would get.

So yes, I'ts "all our fault" like always, but lets not forget the the ENTIRE rest of the world has had Unfettered access to Cuba for the last 60+ years and hasn't done **** to help the Cuban people. Obama announces mostly symbolic changes with the country less then 2 years ago and the changes couldn't be happening faster.

If you don't like the way things are going, kick yourself for not taking the initiative over the last 60 years, not us for doing it now.

Unfettered access is reasonably untrue. Companies outside of the US have essentially been given a choice by US banks and financial/other institutions to 'either work with us or Cuba'

It's only in the last few weeks that this mandate has been relaxed

http://abcnews.go.com/Politics/wireStory/steps-obama-ease-us-restrictions-cuba-37788572

"Eliminated a ban on Cuban financial transactions going through U.S. banks, which effectively had cut off Cuba from the global banking system."

[oliverdst]

Everybody is right. Technically, an "American" company "Starwood" will be the owner and run the show. But China's debt will most likely be financing the operation entirely or partially.

Starwood and Marriott hotels where in talks to merge until 5 days ago, when a Chinese company offered more than 2 billion more than the original offer to purchase the Starwood group.

Anbang Insurance Group, you know what they do? MAKE MONEY. Guess who they already own? Belgian Insurer FIDEA, THE Waldorf Astoria, Several 4 Seasons hotels, and several Weston Hotels. Not to mention their actual business, corporate and industrial insurance in the Chinese market.

China owns the majority of the United States' debt, and therefor the majority of our country (technically) However I would love to see any country try to settle a debt with US. If you wanna see the definition of "Pry it from my cold dead hands" that's exactly what you would get.

So yes, I'ts "all our fault" like always, but lets not forget the the ENTIRE rest of the world has had Unfettered access to Cuba for the last 60+ years and hasn't done **** to help the Cuban people. Obama announces mostly symbolic changes with the country less then 2 years ago and the changes couldn't be happening faster.

If you don't like the way things are going, kick yourself for not taking the initiative over the last 60 years, not us for doing it now.

Yes, it's US fault. Live with that.

Already time to lock the thread?