April 12, 2016 6:06 pm | Updated 5 years ago.
Starwood Hotels and Resorts became the first US hospitality company to enter the hotel industry in Cuba. It has already received authorization for three hotels which will initially undergo some renovation.
Starwood and Marriott, the pioneers in the hospitality sector, are moving ahead with their merger and will become a single company by June this year is also envisioning on doing business in the Carribean Country. The recent visit of President Obama has led to the opening up of ties between US and Cuba. The transformational changes will also be seen in the business sector as President Obama was accompanied by representatives from the business world and trade specialists.
As reported by the Wall Street Journal. The merger of Marriott International and Starwood Hotels and Resorts will give birth to the largest chain of hotels in the world. Although the necessary regulatory procedure has been cleared in the USA, approval is still needed In Europe and China.
Date of Publication: March 21,2016