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Transcript of Cuba
Hotel & Tower Cuba
New Open Market
Attractive tourist location
Continuing to expand Trump Hotels in a new foreign destination
Reduced competitive market
Conveniently 90 miles from U.S.
Cuba has agreed to increase its internet penetration, currently estimated at only 5% which can only benefit Trump Towers in the coming future.
Removal of existing U.S. trade barriers will increase market interest.
What we offer:
A beautiful view of the beaches/island of Cuba.
Turn A Profit :
We offer Licensing for cruise ships to dock on our beach front, where the hotel can make money year round per cruise. Guests can relax at one of our many outside lounge areas with food and full bar. We also provide private tours of Havana while cruising within a 1950’s car.
Estimations per quarter:
To make over 2 million in restaurant services alone. 9 to 10 million in first year on rooms (including gym and spa access), with chances of increased revenue over time rapidly.
Bar and lounge sales estimates 5 million.
The cost of the private tours can be between $120 to $200 USD per tour depending on the amount of participants.
The economic and monetary situation in Cuba is quite complex, for a start there are 2 currencies:
The Peso Convertible - CUC - the main currency used by tourists.( Many foreign currencies are accepted in cuba, and more will soon join.)
The Peso Cubano - CUP (or M.N - moneda nacional) - used mostly by Cubans at places like ration stores.
1 CUC = Average 26 CUP
Adjusting to Cuban Lifestyle ☺
Employees and their families will be staying within Cuban housing, until the hotel is up and running.
Since the main language is Cuban, we must learn the language in order to communicate with workers and individuals in their society.
Adjustments to government policies that are slowly changing but will currently remain for a period of time are:
Government oversight of everything: No religious belief at any schools at all. Very limited access to internet. Watching TV and listening to outside radio is also restricted.
Large homeless population where children become beggars especially to tourists, or some end up prostituting themselves is common.
We will fill your favorite 4 legged friend(s) tummy with gourmet treats, and see them off to sleep on a plush animal bed. Dog-walking services can even be arranged through the concierge or Trump Attache.
Trump will offer on site Cuban cigar rolling for guest who request it.
Upon arrival, our wedding planners will contact you immediately to start planning your luxurious event.
Throughout our first year, Trump Hotel will host a variety of world renowned chefs to consistently enhance the dinning pleasure of our guests.
Joint venture (20 million in total) 10 million to renovate entire hotel accrued by Trump International.
Renovation includes supplied plush seating, rich wood finishes, burnished gold leaf bronze mirrors, and handcrafted schonbek crystal chandeliers.
Upgrades to 35 Guest & Deluxe suites.
No Vending Machines!!! Distinctive intimate cafe's located within the hotel.
Laws & Regulations:
Cuba is a communist country, meaning its controlled and governed by the government.
All laws, rules, and regulations are set by the Cuban government.
There are wholesale changes in the economic polices in Cuba, where American companies attempting to open offices in Cuba will still have to deal with frustrating regulations. Currently the Cuban government controls almost every large business, including luxury hotels which presents difficult challenges for foreign investors.
Travel from the U.S to Cuba solely for tourism at this point is still not allowed.
Joint Venture for Trump Hotel
Trump Incorporated finds new property via advertisement or agencies.
Raising of capital for property acquisition;
Assets may come from sale of current property, remittances or other savings.
Trump Incorporated & Seller have to come to an agreement on a purchase price (usually higher than assessed value of the property)
Deposit purchase price in Cuban pesos in the bank, get cashier's check good for 60 days.
Develops a contract and real estate transfer document.
Trump Incorporated pays principal sum transfer tax to State (4% of the assessed value, due within 30 days)
Registers updated title at municipal property registry.
The removal of trade barriers that have long existed will make U.S. agricultural markets open, and spawn much more competition in the hotel industry.
Currently 24 Five Star Luxury Hotels.
As of 2015, there are seven five-stars hotels in the city of Havana, which is our desire location to build our hotel.
Cuba also has significant natural resources, such as, its large deposits of nickel that can now be more fully developed. Also, Cuba’s rum and sugar industries will also benefit greatly from a normalization of trade.
Cuba has a lot to offer, the tourism risen to over 3 million. This is more than the Bahamas and Dominican Republic.
Since Cuba is getting a large amount of tourist it could overflow into other countries as well. This includes Puerto Rico and Dominican Republic.
We offer many hotel selection programs designed to help every member of the family feel comfortable at our hotel.
The luxury spa and indoor/outdoor swimming pools at the Trump Hotel
Award-winning signature fine dining restaurants, with delicious cultural foods.
The Trump Card spends like cash at any Trump Hotel Collection destination. Cost $50
435 one-bedrooms ranging suites, two-bedroom suites, and available three-bedroom suites in total.
10 foot floor-to-ceiling windows of each room inside.
We offer complimentary currency exchange services located inside the hotel.
Cuba has a good healthcare and a well developed biotechnology industry.
There is likely to be a groundswell of tourism interest that rapidly leads to an allowance of leisure travel and business relations that the Chamber of Commerce and other trade groups have been clamoring for. This will come into effect by the end of this year.
Cuba now has a new $1 billion Mariel port aimed at trade with the United States.
Cuban infrastructure will likely improve as tourism gradually increases turning, streets and vintage 50's cars towards modernization and an improved Cuban country for all of its citizens.
Current Cuban Industry:
Costs / Expenses:
Overall hotel supplies: All bath and bed linens, including washers & dryers, carpets, mirriors, phones, sofas, chairs, TV, and radios. ($1.7 million)
Overall equipment: Kitchen supplies, tables, chairs, cafe accessories, bar appartus. ($2.2 million)
Reconstruction workers. ($1 million)
Payroll employees: including managers and maintenance. (monthly 80 to 120 thousand)
Utilities: water, central air, electricity. (monthly 110 thousand)
Marketing/Advertisement: Web, comercials, radio, billboards, promotions in current hotels.(2.5 million)
Women's rights in Cuba
In Cuba, women have equal constitutional rights as men in the economic, political, cultural and social fields, as well as in the family. According to Article 44 of the Cuban Constitution, "The state guarantees women the same opportunities and possibilities as men in order to achieve woman’s full participation in the development of the country." Women hold 48.9% of the parliamentary seats in the Cuban National Assembly ranking sixth of 162 countries on issues of female participation in political life. There has been only one candidate per seat and the National Candidacy Commission decides the persons.