By Brian Kesten
Starwood
Hotels & Resorts, an American company, has agreed to buy and renovate three
historic resorts in Cuba. The purchase, approved by the Treasury Department in
the U.S., marks the first major foray of an American company into Cuba in
decades. Although Congress has not acted to end the embargo on Cuba, President
Obama continues to lift
restrictions on
travel, financial transactions, and trade with Cuba.
The
major Caribbean island observed a 25 percent increase in visitors in 2015.
However, Cuba may not have the capacity to welcome additional visitors: Cuba’s
resort industry has been oversaturated, causing shortages and
overbookings.
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