The first American company made a deal in Cuba

American hotel chain Starwood Hotels & Resorts Worldwide in the night of Sunday signed an agreement in Cuba, becoming the first major U.S. company facing the Cuban market after the warming of relations between Washington and Havana, according to Reuters.

According to the Agency, the company announced multi-million dollar investment the day before the historic visit of U.S. President Barack Obama to Cuba.

According to Washigton Post, according to the deal, the hotel Inglaterra is a symbol of Havana — will Starwood Luxury Collection, Hotel Quinta Avenida will be the Four Points By Sheraton. At both hotels will be repaired before they will open under new brands later this year.

In addition, Starwood has announced that it has signed another agreement of intent, under which the Hotel Santa Isabel will join the Luxury Collection. While the company expects the relevant approval from the Ministry of Finance of the USA. Permission for two other transactions have been received, the newspaper notes.

On March 21, Barack Obama embarks on a visit to Cuba. This is the first visit of the American President in this country over the last almost 90 years. To him Cuba was only the 30th U.S. President Calvin Coolidge, who ruled the country from 1923 to 1929. Coolidge visited Cuba in 1928.

Agreement between Starwood and the Cuban authorities — the first major contracts concluded by representatives of major us business after the decision of Barack Obama in late 2014 to normalize relations between Washington and Havana.

The first American company made a deal in Cuba

This was not after the revolution, 59. The Starwood family has bought two hotels in Havana. All this on the eve of the historic visit of US President Obama to the island, which begins today and will last 3 days.

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In July last year, the U.S. and Cuba have restored diplomatic relations that were severed in 1961. This was preceded by the first for more than 50 years of full-fledged negotiations between the two leaders, Barack Obama and Raul Castro at the summit of the Americas in Panama in April 2015.