CEIBA has an interest in TosCuba S.A., which was incorporated for the purpose of constructing a beach resort hotel at Playa Maria Aguilar, near the city of Trinidad, a UNESCO World Heritage Site, at province of Sancti Spiritus.
To date, TosCuba has invested in the acquisition of surface rights over the 6 hectare property, the development of architectural works and drawings, and ground preparation. Since the CEIBA has been involved in this project, TosCuba has been able to extend the term of the surface rights from 25 to 50 years and has received permission to build a total of 400 rooms instead of the initially authorized number of 292 rooms. Construction is anticipated to begin within the year following the completion of technical drawings and receipt of all necessary permits and approvals. Following completion, it is intended that new hotel will also be managed by Meliá Hotels International.