OUE H-Trust acquires Crowne Plaza Changi and extension for S$495m

Singapore

OUE Hospitality Trust (OUE H-Trust) has agreed to acquire the hotel Crowne Plaza Changi Airport (CPCA) and its adjacent extension for a total of S$495 million from its sponsor OUE Ltd. The conditional agreement was entered into by OUE H-Trust and OUE Airport Hotel Pte Ltd (OUEAH), a subsidiary of OUE.

According to OUE H-Trust, the hotel offers an annualised yield of 4.5 per cent, which will rise to 4.6 per cent when the hotel's extension is completed.