Skip to comments.Venezuela begins takeover of Hilton-run hotel
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.
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.
Coming to an area near you in the US soon....
If we don’t stop it!
I have stayed at this Hilton. I remember it had a very American feel to it.
Not anymore after the takeover, I’m sure.
Oh, I bet the Venezuela “Tourism Ministry” will do just as good a job as Hilton Corp
Frankly, I wish the capitalists of the world would bid Chavez “adios”
“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.’”
Weelcome to Venzuela. Wee hope ju hab fun. Last long time.
Wasted away in Margarita-ville.....................
So.... some extra towels are out of the question?
Right. Chávez needs them for his Bolivarian Revolution.
Most probably “mo-ray-HUN”.
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