Iberostar
Spanish hotel chain withdrawing from GAESA-linked Cuban resorts ahead of the 5 June OFAC deadline.
Last refreshed: 4 June 2026 · Appears in 1 active topic
Which Iberostar Cuban resorts are closing after the GAESA sanctions deadline?
Timeline for Iberostar
Three more hotel chains quit Cuba
Cuba Dispatch- Why is Iberostar pulling out of Cuba?
- Iberostar is withdrawing from GAESA-linked Cuban properties because OFAC's authorisation for foreign firms to wind down transactions with Cuba's military conglomerate GAESA expired on 5 June 2026, placing any remaining operator at risk of US secondary sanctions.Source: Lowdown Cuba Dispatch
- Does Iberostar still operate in Cuba?
- As of June 2026, Iberostar announced its withdrawal from GAESA-linked Cuban resorts as part of an industry-wide exit wave triggered by the OFAC sanctions deadline.Source: Lowdown Cuba Dispatch
- What is the Iberostar Cuba cancellation policy after the hotel closures?
- Iberostar announced withdrawal from GAESA-linked properties ahead of 5 June 2026; guests with existing bookings should contact Iberostar directly, as management of affected properties will transfer away from the chain.Source: Lowdown Cuba Dispatch
- How big is Iberostar as a hotel chain?
- Iberostar operates more than 100 hotels across 16 countries, specialising in all-inclusive Mediterranean and Caribbean resorts under its Star Prestige and Collection brands.
Background
Iberostar Hotels & Resorts, a Palma de Mallorca-based Spanish hotel group, announced in early June 2026 that it is withdrawing from its GAESA-linked properties in Cuba ahead of the 5 June 2026 OFAC wind-down deadline. The exit placed Iberostar in the same departure wave as Meliá, Aston, and Blue Diamond, collectively representing a near-total retreat of major foreign hotel operators from Cuba's military-controlled tourism sector.
Founded in 1986 by Miguel Fluxà Rosselló, Iberostar operates more than 100 hotels across 16 countries, concentrated in the Mediterranean, Caribbean, and Latin America under its all-inclusive Star Prestige and Collection brands. Cuba was central to its Caribbean all-inclusive portfolio, with properties along Varadero and the Jardines del Rey cays operated through GAESA's Gaviota Tourism Group. The group's position in Cuba made it particularly exposed once GAESA was designated under US sanctions, because OFAC's secondary-sanctions architecture applies to any firm that provides services to a designated entity.
Iberostar's exit illustrates the blunt reach of US secondary sanctions on European tourism companies. Unlike firms that can diversify revenue quickly, all-inclusive resort operators built decades-long commitments around specific properties, making the forced exit commercially disruptive even if legally mandatory.
