Latham & Watkins has guided Japanese non-banking financial services company Tokyo Century Corporation (TC) on its joint venture with Singapore real estate and healthcare group OUE to acquire the Crowne Plaza Changi Airport for SGD500 million (USD386 million).
The hotel comprises 575 rooms and is located at Terminal 3 of Singapore Changi Airport. The acquisition comes as the airport prepares for further expansion, including the development of Terminal 5, which is expected to become operational in the mid-2030s.
Australian alternative investment fund manager Salter Brothers acted as TC’s adviser and investment manager.
Singapore-based partner Michael Rackham led the Latham & Watkins team, which also included associates Yiheng Luo and Jen Whee Lee. Partner Don Stokes and associate Wonhyong Lee, provided financing advice, while chair of the London tax department Simon Skinner and associate Abi Abbott advised on tax matters. Paris-based partner Adrien Giraud and associate Louis-Victor Sachs provided antitrust advice.
The acquisition of Crowne Plaza Changi Airport marks the second transaction involving TC and OUE. Latham & Watkins advised on their joint venture in April 2025 to develop the 255-room Hotel Indigo Changi Airport at Terminal 2, in which Salter Brothers also acted as TC’s investment manager.
