Cuba Inching Closer To Fulfilling Hyman Roth's Dream ... At Least For Non-Americans

Randal Archibold informs us in an NY Times front page story that Cuba is closer to opening the floodgates to golf resort construction. But Americans, don't get too excited just yet.

Andrew Macdonald, the chief executive of London-based Esencia Group, which helps sponsor the golf tournament in Cuba and is planning a $300 million country club in Varadero, said, “This is a fundamental development in having a more eclectic tourist sector.”

The other developments are expected to include at least one of the three proposed by Leisure Canada, a Vancouver-based firm that recently announced a licensing agreement with the Professional Golfers Association for its planned resorts in Cuba, and a resort being designed by Foster & Partners of London.

The projects are primarily aimed at Canadian, European and Asian tourists; Americans are not permitted to spend money on the island, under the cold-war-era trade embargo, unless they have a license from the Treasury Department.

Well so much for that.