View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
April 18, 2011

Overseas Union Enterprises Acquires LCH Hotels

Singapore-based property owner, developer and operator Overseas Union Enterprises (OUE) has acquired LCH Hotels for S$224.5m (US$180m). As part of the acquisition agreement, OUE is acquiring the 320-room Crowne Plaza Changi Airport hotel for S$250m (US$200m), and an adjacent plot of land

By cms admin

Singapore-based property owner, developer and operator Overseas Union Enterprises (OUE) has acquired LCH Hotels for S$224.5m (US$180m).

As part of the acquisition agreement, OUE is acquiring the 320-room Crowne Plaza Changi Airport hotel for S$250m (US$200m), and an adjacent plot of land for S$33m (US$26m).

Following the acquisition, OUE will develop 200 rooms on the adjacent site for S$37m (US$29m) to offer a total of 520 rooms within the Changi Airport area.

The acquisition has increased OUE Singapore’s hotel room numbers by 31.98% to 2,146 from 1,626 rooms.

OUE currently manages and operates two five star hotels in Singapore, Mandarin Orchard and Marina Mandarin, under its hotel arm Meritus Hotels and Resorts.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU