The foreign partner of the Phan Thiet tourism joint venture that owns the
four-star Novotel Ocean Dunes hotel is poised to buy out its domestic
partner. The hotel is part of a US$13 million joint venture between the Binh
Thuan Tourist Company and Hong Kong’s Orton International under the umbrella
of the US-backed Danao International Holdings.
Binh Thuan Tourist Company also quit its 50-bungalow Victoria Phan Thiet
joint venture with Electricité et Eaux de Madagascar two years ago.