Meliá Hotels International has confirmed it will complete its withdrawal from Cuba, ending all hotel management services on the island as of July 24.

The move marks the final phase of the Spanish hotel company’s exit after it previously reported that Meliá had begun a partial withdrawal in June by suspending contracts with Cuba’s Gaviota tourism group. The latest decision will see the company cease operations across its entire Cuban portfolio, which includes 34 hotels in Cuba.

In a filing with Spain’s National Securities Market Commission (CNMV), Meliá said its Portuguese subsidiary, Ilha Bela Gestao e Turismo, will end the provision of management services at all Cuban properties beginning July 24.

The company cited “notable operational, legal, economic and financial difficulties” that have made it increasingly difficult to continue operating in the destination. Meliá said those challenges have been exacerbated by the U.S. embargo and related measures, which have affected the company’s ability to maintain stable operations.

The withdrawal extends beyond hotel management to include the use of Meliá’s brands, tourism reception services and local supply chain activities connected to the resorts.

Meliá said it is assessing the financial impact of the decision, including any potential revisions to the carrying value of its Cuban operations. Additional details are expected when the company releases its first-half financial results.

The company added that it is working to ensure an orderly transition aimed at minimizing disruption for employees, suppliers and guests.