Global Trade Alert

On October 6, 2009, the Venezuelan President Hugo Chavez issued a decree (Decree No 6.962) on the nationalisation and expropriation of a hotel owned by the American company Hilton. The hotel now operates under the state-owned company Venezolana de Turismo Venetur S.A. with the aim to increase social tourism.
 
This measure is included in the GTA database because the nationalisationwas forced and the compensation (if there is any) for theexpropriation is most likely tothe detriment of foreign commercialinterest.