February 9, 2018 / 2:01 AM / 14 days ago

Mexican firm to operate two beachside hotels in Cuba

MEXICO CITY, Feb 8 (Reuters) - Mexican hotel operator Grupo Posadas said on Thursday that it had signed contracts to operate two beachside Fiesta Americana All Inclusive hotels in Cuba.

Grupo Posadas said in a statement to the stock exchange that both locations, one a 633-room hotel at Punta Varadero and the other with 749 rooms at Holguin Costa Verde, are local investments that should be up and running this year.

The group manages more than 100 hotels under six different brands, according to its website.

Efforts by former U.S. President Barack Obama to mend the country’s relationship with Cuba sparked renewed international interest in investment, but relations have deteriorated since under President Donald Trump. (Reporting by Stefanie Eschenbacher; Editing by Daniel Wallis)

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