But the Cuban revolution led by Fidel Castro and the subsequent Cold War embargo of the communist island nation put an end to that.

President Barack Obama's announcement Wednesday of plans to re-establish diplomatic ties with the Caribbean nation doesn't mean that the island will suddenly open for tourism. It does, however, give hope to airlines, hotel chains and cruise companies - all which have been quietly eyeing a removal of the travel ban - that they soon will be able to bring tourists to Cuba.

"Cuba is the largest country in the Caribbean, so there's some exciting possibilities," Roger Frizzell, spokesman for Carnival Corp., said. "Some infrastructure for cruising already exists in the country, along with several ports, so it offers great potential, but there are other issues that will need to be taken into consideration if this market opens up."

A handful of international companies already operate in Cuba. For instance, Spanish hotel chain Melia has 26 properties on the island.

For years, U.S. airlines have been quietly dipping their toes in Cuba's warm waters.

While most Americans are prohibited from traveling to Cuba and spending money there, close relatives of Cubans, academics and people on accredited cultural education programs can visit. And there is a tiny, but robust business in transporting people to Cuba.