Starwood Signs Three Cuba Deals

Starwood Hotels & Resorts Worldwide, Inc. has signed three new hotel deals in Cuba. The announcement comes after Starwood received authorization from the U.S. Treasury Department to operate hotels in Cuba.

Long-time Havana icon, Hotel Inglaterra, will join The Luxury Collection and Hotel Quinta Avenida will become a Four Points by Sheraton. Both hotels will undergo renovations before raising their new brand flags later in 2016.

As well, Starwood also announced that it has signed a Letter of Intent to convert the famed Hotel Santa Isabel into a member of The Luxury Collection.

Thomas B. Mangas, Starwood’s CEO said: “Starwood’s history of creativity, innovation, sustainability and being a first mover is core to who we are and what has made us a formidable competitor in the industry with a long, global lead. I am proud of our team who worked tirelessly to make today possible. With Cuba’s rich history, natural beauty and strong culture, there is no question the entire U.S. hospitality industry has watched Cuba with great interest, and we are thrilled to lead the charge and bring our sophisticated, high-end brands into the market at this inflection point.”

Kenneth S. Siegel, Starwood’s chief administrative officer and general counsel, noted: “We are confident Starwood is the right partner to help write the next chapter of relations between Cuba and American business, and we moved quickly and enthusiastically to pursue opportunities following recent government actions. As we’ve seen throughout the world, our entry into new markets has a positive effect on local communities, preserving and protecting the culture and delicate ecosystems while improving employment opportunities, which were driving forces in our discussions.”

Go to http://www.starwoodhotels.com for more.