Gaesa

The Grupo de Administración Empresarial S.A. or GAESA is Cuba's largest, military-controlled business megaconglomerate. Among other interests, it has exclusive control over Cuba's hotel industry, from which it has historically acquired billions of US and Canadian dollars in income. According to The Miami Herald, GAESA, acting as a proxy for the Cuban military, has around $18 billion in assets as of August 2025. This was challenged by experts, with researcher Emily Morris telling The Belly of the Beast Cuba that the purported leaked documents show that GAESA has less than $1 billion in assets.