Grupo Posadas will operate two hotels in Cuba
Cuba

The Mexican group signed contracts to manage a site in Punta Varadero and another in Costa Verde on the Caribbean island.

The Mexican firm Grupo Posadas reported Thursday that it signed contracts for the operation of two Fiesta Americana All Inclusive hotels in Cuba.

The hotel operator said in an announcement to the Mexican Stock Exchange that both venues, Fiesta Americana All Inclusive Punta Varadero and Fiesta Americana All Inclusive Holguin Costa Verde, are local investments and they are estimated to be operational this year.

Grupo Posadas manages more than 100 hotels under six brands, according to its website, and has pursued an “aggressive” development plan in recent years.

Lee: The new brand for millennials launched by Grupo Posadas

The efforts of former US President Barack Obama to relax the relationship between his country and the island of communist government stimulated international interest in doing business with Cuba, but President Donald Trump promised to reapply the sanctions of 50 years ago.

The Cuban government says it needs a minimum of $ 2 billion in foreign investment a year to boost economic growth, part of a series of reforms by President Raúl Castro to update a Soviet-style system.

Sign Up for Our Newsletters

You May Also Like

Tesla board evaluates Elon Musk’s idea of ​​withdrawing the company from the stock market

Tesla’s board said on Wednesday it was considering withdrawing the company from…

Comcast waives Fox’s assets to focus on the offer for Sky

Comcast Corp said on Thursday it wasn’t seeking to buy Twenty-First Century…

Beer producer Damm reduces its annual CO2 emissions by more than 2,600 tons

Damm’s constant commitment to improve the efficiency of its factories and the…