Venezuelan President Hugo Chavez Orders Acquisition of Hilton-run Hotel on Margarita

Venezuelan President Hugo Chavez has ordered the forced acquisition of a Hilton-run hotel on the resort island of Margarita and will now use the property to develop tourism projects.

Chavez ordered the takeover of the Margarita Hilton & Suites Hotel Complex and the move would free the government of any existing liabilities facing the hotel while retaining all assets for the tourism ministry.

The hotel, managed by Hilton Worldwide, was just used last month to host the Africa-South America Summit. It is said to have 280 rooms, 210 suites, a casino, restaurants, shops and offices.

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