Global Ports Holding Plc (GPH), the London listed and Istanbul based company that is the world's largest independent cruise port operator, is pleased to announce 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, GPH said in a statement.
Under the terms of the agreement, GPH will from 21 June 2018, use its global expertise and operating model to manage all of the cruise port operations over the life of the agreement. “As consideration, the Group will be paid a management fee that is based on a number of factors including passenger numbers, with growth based incentives,” GPH said in a statement.
In addition to operating the cruise port operations, GPH will continue to work with our Cuban partners on the design and technical specification of the cruise port investment programme, including proposed new terminals. “Once these have been completed GPH will take responsibility for the marketing and commercialisation of these new facilities,” the company said.
The agreement is part of significant investment by Cuba into the port area and the tourism infrastructure in Havana. The port currently has capacity of two berths and in 2017 welcomed about 328,000 cruise passengers, a growth rate of 156% compared to 2016, with over 500,000 cruise passengers forecast for 2018. As part of Cuba's significant investment program into the port and surrounding area the number of berths will increase to six by 2024, significantly increasing the passenger capacity of the Havana port.