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OUE and Tokyo Century to acquire Crowne Plaza Changi Airport for SGD 500 million

#International News#Commercial#Singapore
Last Updated : 26th Jun, 2026
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Synopsis

Singapore-based real estate firm OUE has partnered with Japanese investment company Tokyo Century to acquire the Crowne Plaza Changi Airport hotel for SGD 500 million (USD 385.4 million). The transaction marks the second hospitality collaboration between the two companies at Singapore's Changi Airport. The 575-room hotel, located at Terminal 3 and operated by IHG Hotels & Resorts, will be acquired through an OUE-Tokyo Century joint venture from OUE REIT. The proposed transaction is subject to approvals from Changi Airport Group and OUE REIT unitholders.

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Singapore real estate company OUE announced that it has entered into an agreement with Tokyo Century to acquire the Crowne Plaza Changi Airport hotel for SGD 500 million (USD 385.4 million), expanding the partners' presence in Singapore's airport hospitality market. 
The acquisition will be carried out through a joint venture between OUE and Tokyo Century, which will purchase the hotel from OUE REIT. The real estate investment trust is managed by OUE. 
The transaction marks the second hotel-related collaboration between the two companies at Changi Airport. Earlier, OUE and Tokyo Century agreed to jointly develop Hotel Indigo Changi Airport, strengthening their partnership in Singapore's hospitality sector. 
The proposed acquisition remains subject to approvals from Changi Airport Group and the unitholders of OUE REIT before it can be completed. 
Crowne Plaza Changi Airport is a 575-room property located at Terminal 3 of Singapore's Changi Airport and is operated by IHG Hotels & Resorts. The hotel has consistently benefited from its direct airport connectivity and serves both transit and business travellers. 
In a separate announcement, OUE REIT stated that SGD 20 million in net cash proceeds from the transaction will be distributed equally to unitholders during the first two years after the completion of the proposed sale. 
Source Reuters
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