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President Hugo Chavez has ordered the "acquisition by force" of a landmark Hilton Hotel on Venezuela's Margarita island, the government's Official Gazette announced Tuesday.
...The assets will be held by the state tourism corporation Venetur, which reports to the Tourism Ministry, as part of an "urgent" effort to boost "the social development side of the tourism and hotel industries in Nueva Esparta state," the Gazette said.
In the past four years, Venezuela has implemented the nationalization of industries it sees as strategic including electrical utilities, cement, steel, oil services and banking.
Originally posted by TrueAmerican
Hmm, so now tourism is strategic too?
Originally posted by TrueAmerican
Private industry paid for its development and construction, but the state gets to step right in and just take it?
Originally posted by TrueAmerican
I didn't see anything about the corporations being reimbursed at all for this.
Originally posted by TrueAmerican
And what about all those jobs
"At this time, Hilton Worldwide is evaluating how the Venezuelan government's action affects its interest in this hotel," said Karla Visconti, a Hilton Worldwide spokeswoman for the Caribbean, Mexico, and Latin America.
In a brief statement Visconti said the hotel "remains a member of the Hilton system of hotels, and welcomes guests with the same level of service they have come to enjoy
Originally posted by TreadUpon
If I owned that property, I'd have burned it to the ground on my way out. It would be fun to listen to Chavez (and every other marxist) cry that I had stolen it from him...
Originally posted by TreadUpon
If I owned that property, I'd have burned it to the ground on my way out. It would be fun to listen to Chavez (and every other marxist) cry that I had stolen it from him...