Foreign buyout of Novotel Ocean Dunes hotel

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.

 

Category: Business