Starwood Hotels & Resorts World-wide said Saturday it has signed three hotel deals in Cuba, a first for a US hospitality company since the 1959 revolution on the communist-run island.
Starwood said two of the hotels would open later this year and that it had signed a letter of intent for a third. The announcement came on the eve of a historic visit to Cuba by US President Barack Obama.
"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," said Kenneth Siegel, Starwood's chief administrative officer and general counsel.
Instead of building from the ground up, Starwood is moving in to existing upscale properties: the landmark Hotel Inglaterra will become a member of its Luxury Collection and the Hotel Quinta Avenida will be rebranded as Four Points by Sheraton Havana.
A letter of intent was signed with Cuba's Habaguanex, owner of the Hotel Santa Isabel, to also convert it to a member of the Luxury Collection.
"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," Siegel said.
Obama and Cuban President Raul Castro surprised the world in simultaneous speeches announcing their countries would begin normalising relations back on December 17, 2014.
The 44th US president will hold talks with the communist government, but the White House has made it clear the emphasis will be on reaching out to the Cuban people directly.
On Tuesday, Obama will give a speech at the National Theater that will be carried live on Cuban television, giving Obama a unique platform to make his case.
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