Singaporeans pluck Sydney hotel from Crown collapse

Sarah Petty and Campbell Kwan

Jul 2, 2025 – 4.40pm

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A prominent Sydney CBD hotel has been sold by the receivers for collapsed property developer Crown Group, co-founded by Iwan Sunito, to a Singaporean hospitality player for $68 million, marking the city’s largest hotel deal so far this year.

Furama Hotels International will take control of the Skye Suites Sydney Hotel and Our Skittle Place Retail on Kent Street after it was listed for sale by receivers in May. The hotel launched in 2018 and has 73 serviced apartments, while its retail precinct is Soul Origin and has six shops on the ground floor.

Sarah Petty covers commercial and residential property markets for The Australian Financial Review, based in the Melbourne newsroom.

Campbell Kwan covers commercial and residential real estate for The Australian Financial Review, based in the Sydney newsroom. He was previously the breaking news reporter.