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Venezuela begins takeover of Hilton-run hotel
CaribbeanBusinessPR.com ^ | October 16, 2009 | CB Online Staff

Posted on 10/16/2009 11:22:07 AM PDT by rrstar96

CARACAS, Venezuela – President Hugo Chavez's government began taking over management of a Hilton-run hotel on Venezuela's Margarita Island on Wednesday.

Tourism Minister Pedro Morejon said a 20-year concession granted to the company has expired and the government "has taken legitimate control of an asset that belongs to all the people of Venezuela."

Chavez issued a decree last week ordering the "forced acquisition" of the Margarita Hilton & Suites and its marina, though news of the edict did not surface until Tuesday.

Morejon said the government has held majority ownership of the hotel since 1995, when a banking crisis forced many of the hotel's shareholders to sell their assets to the state.

It was not immediately clear what assets Hilton owns within the hotel complex, but the decree forces it to sell whatever it has. Officials have not said how much Venezuela will pay in compensation, or when.

Representatives for Hilton Worldwide did not immediately respond to a request for comment on Wednesday. A spokeswoman said Tuesday that the company was analyzing the move to determine how its interest in the hotel will be affected.

Margarita Island is one of Venezuela's main tourist destinations, and the hotel has more than 300 rooms and about 150 timeshares, plus restaurants, a casino, souvenir shops and a marina.

Chavez's decree said the Tourism Ministry will be responsible for running the resort.


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; Government
KEYWORDS: chavez; communism; communists; foreignaffairs; hilton; hugochavez; military; obama; socialism; venezuela; veterans

1 posted on 10/16/2009 11:22:09 AM PDT by rrstar96
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To: rrstar96

Chavez needs money to give to people so that he can stay in power. One way to do it is to take over private assets. Oh yeah, he is doing it because he is a commie.


2 posted on 10/16/2009 11:25:53 AM PDT by Loyal Buckeye
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To: rrstar96

Coming to an area near you in the US soon....

If we don’t stop it!


3 posted on 10/16/2009 11:27:39 AM PDT by RowdyFFC (Nancy Pelosi...please deny her any health care....)
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To: rrstar96
So what we have a commie here taking over banks Auto manufactures and Health care that Chavez is small potato's.
4 posted on 10/16/2009 11:28:44 AM PDT by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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To: rrstar96

I have stayed at this Hilton. I remember it had a very American feel to it.


5 posted on 10/16/2009 11:31:25 AM PDT by Boardwalk
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To: rrstar96
Hummmm....


6 posted on 10/16/2009 11:33:11 AM PDT by TexasCajun
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To: Boardwalk

Not anymore after the takeover, I’m sure.


7 posted on 10/16/2009 11:34:44 AM PDT by rrstar96 (Strength and Honor!)
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To: rrstar96

Oh, I bet the Venezuela “Tourism Ministry” will do just as good a job as Hilton Corp

sarc

Frankly, I wish the capitalists of the world would bid Chavez “adios”


8 posted on 10/16/2009 11:36:15 AM PDT by silverleaf (If we are astroturf, why are the democrats trying to mow us?)
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To: TexasCajun

“Perhaps if I said something about healthcare along the lines of ‘the federal government has taken legitimate control of an asset that belongs to all the American people.’”


9 posted on 10/16/2009 11:37:15 AM PDT by rrstar96 (Strength and Honor!)
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To: rrstar96
Venezuelan Tourism Minister:
===========================

Weelcome to Venzuela. Wee hope ju hab fun. Last long time.


10 posted on 10/16/2009 11:40:19 AM PDT by VeniVidiVici (Hey Obama. Where is Osama Bin Laden?)
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To: rrstar96

Wasted away in Margarita-ville.....................


11 posted on 10/16/2009 11:43:10 AM PDT by Red Badger (The Zero has more airtime than Michael Jordan...........)
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To: Loyal Buckeye

So.... some extra towels are out of the question?


12 posted on 10/16/2009 11:47:17 AM PDT by Pajama Blogger (Pajama Power)
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To: Pajama Blogger

Right. Chávez needs them for his Bolivarian Revolution.


13 posted on 10/16/2009 11:48:06 AM PDT by rrstar96 (Strength and Honor!)
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To: rrstar96
Tourism Minister Pedro Morejon said a 20-year concession granted to the company has expired and the government "has taken legitimate control of an asset that belongs to all the people of Venezuela."


How do you pronounce the tourism ministers name??
Could it really be moron???
14 posted on 10/16/2009 11:49:19 AM PDT by dynamitehack (Glenn Beck is Right!! What do we do now??)
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To: dynamitehack

Most probably “mo-ray-HUN”.


15 posted on 10/16/2009 11:54:22 AM PDT by rrstar96 (Strength and Honor!)
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To: Loyal Buckeye

Evil dogs!


16 posted on 10/16/2009 12:02:35 PM PDT by Lesforlife ("For you created my inmost being; you knit me together in my mother's womb . . ." Psalm 139:13)
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To: rrstar96
The accountant and I spent our wedding night in that hotel almost 20 years ago. HA, we outlasted the resort.
17 posted on 10/16/2009 12:07:25 PM PDT by Damifino (The true measure of a man is found in what he would do if he knew no one would ever find out.)
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