Venezuela: privatization of hotels


The Venezuelan government will sell all the hotels operating under its administration, considering that such structures surpass budget estimates.

The Minister of Production and Trade Luisa Romero said monday that the decision of the government is intended to attract foreign investment, adding that a list of hotels is currently being made before the privatization process.
Among the hotels to be privatized are Del Lago Hotel, Intercontinental Valencia Hotel, Intercontinental Guayana Hotel, the Caraballeda, Puerto La Cruz and Macuto Sheraton.
Authorities are considering the possibility of selling all the facilities ‘as is’ or to re-invest in them in order to make them more attractive to investors.

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