Chavez approves 'forced acquisition' of Hilton hotel

President Hugo Chavez’s government has begun taking over management of a Hilton-run hotel on Venezuela’s Margarita Island.

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

Mr Chavez issued a decree last week ordering the “forced acquisition” of the Margarita Hilton & Suites and its marina.

A Hilton Worldwide spokeswoman said the company was analysing the move to determine how its interest in the hotel would be affected.