Starwood Hotels and Resorts Worldwide Inc. has made history today by becoming the first hospitality company to obtain U.S. Treasury Department Authorization to operate in Cuba in the past 60 years. The resort company signed the paperwork to open three new hotels in Havana in 2016.
In addition to the construction of these hotels, Hotel Inglaterra will join The Luxury Collection and Hotel Quinta Avenida will become a Four Points by Sheraton. Both resorts will be cosmeticize and restructured before they raise their new flags in 2016. Starwood has also signed a letter of intent to convert the Hotel Santa Isabel into a member of The Luxury Collection.
“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,” said Thomas B. Mangas, Starwood’s Chief Executive Officer. “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.”
The resort company will be reconstructing and rebranding several hotels. Hotel Inglaterra will dawn The Luxury Collection banner with 83 new, converted rooms; Four Points by Sheraton Havana —formerly Hotel Quinta Avenida —will offer roughly 186 rooms and modernized meeting facilities, perfect for business travelers; and the Hotel Santa Isabel, becoming a new member of The Luxury Collection, will offer 27 rooms (11 of which are suites) right in the middle of Havana’s historic city center.
The history of the new traveling regulations has been developing for years. Just recently, Starwood was advised by D17 strategies, a consulting firm providing strategic counsel to clients seeking to carry out Cuban trade, investment, travel and exchanges permitted under new U.S. regulations.
Starwood Hotels and Resorts is one of the hottest resort companies on the market today. Our specialists can assist any interested owners in showing them how to buy or how to rent a Starwood timeshare. We could save you up to 70% off the price when you purchase your property on the secondary market.
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