OUE Group LJ3 has announced the successful completion of its $22 million asset enhancement initiatives (AEI) for Crowne Plaza Changi Airport (CPCA) on Jan 3.
With the addition of a dozen guest rooms to a total of 575 rooms, a revamped all-day dining area and new meetings, incentives, conventions and exhibitions (MICE) spaces, OUE LJ3 says CPCA is well-positioned to capitalise on the anticipated increase in tourists and business travellers in 2024 and beyond.
In a press release, OUE explains that the addition of 12 new guest rooms came in response to strong demand for rooms on the same level as the hotel’s tropical resort outdoor pool framed by a backdrop of Changi Airport’s iconic control tower. These include 10 premier rooms and two suites, catering to the higher-yielding segment of long-stay guests and families.
Meanwhile, CPCA’s new all-day dining restaurant Allora now delivers an authentic Italian dining experience to complement the current food and beverage (F&B) offerings at Changi Airport. Following its soft opening, Allora will become the sole Italian restaurant with a buffet spread in the Changi Airport area.
As part of the AEI, CPCA also took the opportunity to repurpose its original all-day dining restaurant space into a 352 square metre multi-function room. The adaptable space is well-suited for a range of events including corporate meetings, social gatherings and weddings.
OUE says this addition complements CPCA's current ballroom and facilities, expanding its capacity for hosting various meetings and events and catering to growing MICE demand. The previous bar was also transformed into a contemporary club lounge with modernised meeting spaces to enhance the guest experience.
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Deputy CEO and executive director Brian Riady says the completion of the AEI is timely for the hotel to capitalise on the hospitality sector’s continued recovery in 2024 and beyond. “The hotel’s new additional guest rooms, revitalised MICE facilities and new dining experience are expected to strengthen the competitive positioning of this premium landmark asset and achieve OUE’s strategic goal of enhancing its long term value for sustainable returns.”
“The successful completion of CPCA’s AEI is another testament to OUE C-REIT’s commitment to optimise the value of our assets through active asset management,” adds Han Khim Siew, CEO of the manager of OUE C-REIT TS0U . “With these income-generating enhancements and strengthened offerings, we are confident that CPCA will be able to take advantage of the continued tourism recovery, as well as the MICE demand amidst the ongoing development of Terminal 5, Changi East Industrial Zone and Changi East Urban District.”
Shares in OUE closed 1 cent lower or 0.85% down at $1.17 while units in OUE C-REIT closed 0.5 cents higher or 1.75% up at 29 cents on Jan 3.
