You are here: Home » International » News » Companies
Business Standard

Starwood signs first US-Cuba hotel deal since revolution

Starwood will manage and market two properties in Havana & signed a letter of intent to operate a third

Topics
Starwood Hotels

Reuters  |  Havana 

Starwood Hotels & Resorts Worldwide on Saturday became the first US hotel company to sign a deal with Cuba since the 1959 revolution, announcing a multimillion-dollar investment a day before US President Barack Obama was due to visit Havana. Starwood will manage and market two properties in Havana and signed a letter of intent to operate a third. Such deals would normally be prohibited under the US economic embargo of Cuba, but Starwood received special permission from the US Treasury Department last week. Jorge Giannattasio, chief of Latin American operations, said the deals included a ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, March 21 2016. 00:14 IST
RECOMMENDED FOR YOU
.