Singapore investor buys Crowne Plaza Perth for $50m

Larry SchlesingerReporter

Updated Mar 22, 2017 – 7.00pm, first published at 3.11pm

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A Singapore-based high net worth investor has paid $50 million to buy the 4.5 star Crowne Plaza Perth hotel overlooking the Swan River, in a major boost for the city's struggling hospitality sector.

The 191-room hotel on Terrace Road, operated by UK giant Intercontinental Hotels Group (IHG), was sold off-market by Hong Kong-backed Avant Hotels Australia. It was acquired by private Singapore company I-Power Management Pte Ltd.