Global Ports Holding (GPH) announced that it has signed a 15-year management agreement with the Cuban company Aries S.A. for the operation of the cruise port in Havana, Cuba.
The agreement will also see a significant investment program grow the port from two cruise berths to six by 2024, according to a statement.
Global Ports Holding is the large cruise port operator in the world, with a dozen ports under operation in the Mediterranean, in addition to Singapore.
Under the terms of the agreement, Global Ports said it will use global expertise and operating model to manage all of the cruise port operations over the life of the agreement.
As consideration, GPH will be paid a management fee that is based on a number of factors including passenger numbers, with growth based incentives.
“In addition to operating the cruise port operations, the Group will continue to work with our Cuban partners on the design and technical specification of the cruise port investment program, including proposed new terminals. Once these have been completed GPH will take responsibility for the marketing and commercialization of these new facilities,” GPH said.
Global Ports Holding, Chairman and Co-Founder Mehmet Kutman said:
“I am very happy that we have signed an agreement for Havana Cruise Port, the first step in the Group’s growth strategy for the Americas. This spectacular city and country is becoming an increasingly popular tourist destination, with visitors attracted by world famous architecture, a vibrant music scene and the famous local hospitality. We very much look forward to working with our Cuban partners to deliver a fantastic cruise port experience.”
Global Ports Holding, CEO Emre Sayin said:
“We are delighted to have been awarded the management contract for the Havana cruise port and look forward to playing our role in developing the cruise port and the wider visitor experience in Havana, as well as Cuba more broadly. This represents our first Agreement in the Caribbean, in line with our strategy of expansion into the Americas cruise port market and therefore marks an important step in the development of Global Ports Holding. The GPH team looks forward to working with our local partners and local staff to drive continued growth in cruise passenger volumes at Havana Port and deliver both world class cruise port facilities and a great cruise experience for all passengers visiting Havana.”