Read the latest news from around the Asia-Pacific region.

In an analysis of hotel CEO compensation through quarterly earnings reports and Securities and Exchange Commission filings of publicly traded hotel firms, HNN’s Terence Baker reports that these executives’ salaries and benefits have rebounded from the pandemic.

Among Asian hotel executives, Huazhu Group Limited’s former CEO and chair, Ji Qi, earned 400,000 shares at $1.53 per share for a total of $612,000 that were granted and expired on the same day, Oct. 1, 2019, but another document from March 31, 2021, showed a more complex arrangement for his shares.

Indian Hotels Company CEO Puneet Chhatwal received a salary of 7.23 crore, or 72.3 million Indian rupees ($914.7 million).

Hong Kong-based Dorsett Hospitality has set a new multi-brand strategy to allow for more flexibility and scale as well as expand into building residential communities, HNN's Baker reports.

The company’s latest brand, Dao by Dorsett, is a response to changing guest preferences. The guestrooms have more space and include amenities such as kitchens and large balconies. The brand had a soft opening in the United Kingdom in June with the 74-key Dao by Dorsett West London, in the Shepherd’s Bush district of the capital.

Singapore-based real estate investment trust ARA US Hospitality entered an agreement to sell four of its lowest-performing hotels, reports CoStar News’ Mark Heschmeyer. Three Wall Capital, the buyer, is purchasing the portfolio for $32.5 million.

“ARA said the proposed sale will help to optimize its portfolio by owning hotels with good cash-flow-generating capability in markets with strong underlying long-term market fundamentals,” according to the article. “The REIT intends to use proceeds from the sale to reduce bank borrowings and/or redeploy capital to acquire new properties.”

Singapore-based Banyan Tree Group announced its debut in Japan with two hotel openings and an additional three hotels planned over the next three years, reports HNN’s Trevor Simpson. The 138-room Dhawa Yura Kyoto and 25-room Garrya Nijo Castle Kyoto, opened on June 17.

“We are pleased with our strategic entry into Japan, in line with the government’s recent decision to ease international tourism into the country. Just in time to announce the openings of Dhawa and Garrya, in addition to the new partnerships that will expand our multi-branded portfolio,” Eddy See, Banyan Tree Group President and CEO, said in the news release.

Radisson Hotel Group announced its plans to grow its presence in the Asia-Pacific region by 400% by 2025, reports HNN’s Bryan Wroten. Its APAC Expansion Plan calls for an additional 1,700 hotels and resorts on top of its existing portfolio of 400.

“Our plans for the APAC region represent one of the most important milestones in our company’s history,” said Katerina Giannouka, president, Asia-Pacific, in the release. “Focusing on Asia-Pacific’s most dynamic destinations and introducing multiple new brand options will present outstanding opportunities for expansion.

Marriott International announced it signed an agreement with Vietnam-based hospitality and leisure chain Vinpearl to convert and develop eight hotels with nearly 2,200 rooms in Vietnam, HNN’s Wroten reports. The deal will debut Marriott’s Autograph Collection soft brand in Vietnam and expand the footprint of its Marriott, Sheraton Hotels & Resorts and Four Points by Sheraton brands in the country.

"We are thrilled to be working with Vinpearl to accelerate our growth in Vietnam," said Rajeev Menon, President, Asia-Pacific, excluding Greater China, at Marriott International, in the news release announcing the deal. "With the country's solid foundation for a resilient economy, and continuous growth of its infrastructure especially in the tourism sector, we are confident this collaboration will enable us to better cater to our guests' needs."

• The Australian Rugby League Commission acquired the 68-room Gambaro Hotel in Brisbane from the Gambaro family for more than 25 million Australian dollars ($17.2 million).
• The former Penang Mutiara Beach Resort in Malaysia, which was closed in 2006, will be renovated and converted to the InterContinental Penang Resort and is scheduled to open in 2025.
• Singapore-based Crescendas Eco has acquired the freehold 41-room Sing Hoe Hotel for 29 million Singapore dollars ($20.8 million).
• Maldives-based Universal Enterprises has sold the 176-room Sheraton Maldives Full Moon Resort & Spa and the W Maldives for an undisclosed amount to a global private equity investor.
• Australia’s Elanor Hotel Accommodation Fund acquired the 60-room Best Western Sanctuary Inn Tamworth for more than 18 million Australian dollars.
• Subsidiaries of Phillipines-based DoubleDragon Properties Corp. acquired a 9,000-square meters plot of land in Niseko, Hokkaido in Japan for the company’s first international Hotel 101 property.
• Singapore-based sovereign wealth fund Government of Singapore Investment Corp. and Netherlands-based pension fund manager APG will jointly acquire a stake of the hybrid hospitality brand The Student Hotel from Luxembourg-based Aermont Capital in a deal valued at 2.1 billion euros ($2.1 billion).
• Australia-based Orchard Piper and the Carter Group will redevelop a six-story office tower in Melbourne into a 17-story tower that includes a hotel, spa and apartment building as a mixed-use project with a price tag of about 300 million Australian dollars.
• Parc 1, a $1.5-billion commercial complex that includes a shopping center, two office towers and the luxury hotel Fairmont Ambassador Seoul, is now open.
  

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