1. AMTD IDEA Group's subsidiary is acquiring a hotel in New York City. 2. The acquisition could boost AMTD's hotel portfolio to 585 rooms. 3. This represents a nearly 60% growth in their hotel offerings. 4. Negotiations are underway with a target closing date in late 2025. 5. TGE's expansion into New York indicates strategic growth in hospitality.
The acquisition aligns with AMTD's growth strategy, similar to historical hotel investments.
The acquisition could significantly enhance AMTD's revenue streams, affecting market perceptions positively.
Future revenue from the hotel may take years to materialize post-acquisition.
PARIS, NEW YORK and SINGAPORE, Nov. 3, 2025 /PRNewswire/ -- AMTD IDEA Group ("AMTD IDEA Group") (NYSE:AMTD, SGX: HKB)) and The Generation Essentials Group ((", TGE", , NYSE:TGE), a subsidiary of AMTD Digital (NYSE:HKD), jointly announce that TGE has become the exclusive bidder in relation to an acquisition of a hotel located in the New York City.
This New York hotel features at least 150 rooms, along with over 5,000 square feet of retail space designated for F&B operations, a rooftop area, and amenities including a fitness centre and a business centre etc.
The relevant parties are currently in exclusive negotiation stage and are working towards a definitive purchase agreement, with a target closing date set for the end of 2025. The proposed acquisition will be subject to the satisfaction of various conditions to be set forth in the definitive agreements.
Today, AMTD's hotel portfolio includes 366 rooms, comprising the iclub AMTD Sheung Wan Hotel in Hong Kong with 98 rooms and the Dao by Dorsett AMTD Singapore with 268 rooms.
Assuming the New York hotel acquisition can be completed, along with the previously announced London hotel - "Dao by Dorsett AMTD Hornsey" with 68 rooms, the total number of rooms could potentially increase by 219, bringing the overall AMTD hotel portfolio to 585 rooms, representing a growth of approximately 59.84%.
About AMTD Group
AMTD Group is a conglomerate with a core business portfolio spanning across media and entertainment, education and training, and premium assets and hospitality sectors.
About AMTD IDEA Group
AMTD IDEA Group (NYSE:AMTD, SGX: HKB)) represents a diversified institution and digital solutions group connecting companies and investors with global markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients' diverse and inter-connected business needs and digital requirements across all phases of their life cycles. AMTD IDEA Group is uniquely positioned as an active super connector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on X (formerly known as "Twitter") at @AMTDGroup.
About AMTD Digital Inc.
AMTD Digital Inc. (NYSE:HKD) is a comprehensive digital solutions platform headquartered in France. Its one-stop digital solutions platform operates key business lines including digital media, content and marketing services, investments as well as hospitality and VIP services. For AMTD Digital's announcements, please visit https://ir.amtdigital.net/investor-news.
About The Generation Essentials Group
The Generation Essentials Group (NYSE:TGE), jointly established by AMTD Group, AMTD IDEA Group (NYSE:AMTD, SGX: HKB)) and AMTD Digital Inc. (NYSE:HKD), is headquartered in France and focuses on global strategies and developments in multi-media, entertainment, and cultural affairs worldwide as well as hospitality and VIP services. TGE comprises L'Officiel, The Art Newspaper, movie and entertainment projects. Collectively, TGE is a diversified portfolio of media and entertainment businesses, and a global portfolio of premium properties.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD IDEA Group and/or AMTD Digital, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD IDEA Group, AMTD Digital and The Generation Essentials Group with the SEC. All information provided in this press release is as of the date of this press release, and none of AMTD IDEA Group, AMTD Digital and The Generation Essentials Group undertakes any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please contact:
For AMTD IDEA Group:
IR Office
AMTD IDEA Group
EMAIL: ir@amtdinc.com
For AMTD Digital Inc.:
IR Office
AMTD Digital Inc.
EMAIL: ir@amtdigital.net
For The Generation Essentials Group:
IR Office
The Generation Essentials Group
EMAIL: tge@amtd.world
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SOURCE AMTD IDEA Group; AMTD Digital; The Generation Essentials Group