Starwood Hotels and Resorts will become the first American hospitality company for more than half a century to enter the Cuba market
It has signed deals to convert three existing hotels in Havana.
The Hotel Quinta Avenida will join Starwood’s Four Points by Sheraton brand while Hotel Inglaterra will become a Luxury Collection hotel.
Starwood also signed a letter of intent to convert the Hotel Santa Isabel to a Luxury Collection hotel.
"There is no question the entire US hospitality industry has watched Cuba with great interest, and we are thrilled to lead the charge and bring our high-end brands into the market at this inflection point," said Starwood Thomas Mangas.
Starwood’s suitor Marriott International also said it has been authorized to ‘develop a hospitality relationship with potential partners’ in the country.
Marriott’s planned takeover of Starwood was in major doubt after Starwood said it would press ahead with a competing bid from a consortium led by China’s Anbang Insurance Group.
However Marriott has agreed to sweeten its original offer, trumping Ambang’s bid of $78 a share.
"We are pleased that Marriott has recognized the value that Starwood brings to this merger and enhanced the consideration being paid to Starwood shareholders," Starwood chairman Bruce Duncan said.
