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TGE Pursues the Acquisition of the 100th Ritz Carlton Hotel Globally

1. TGE to acquire the 100th Ritz Carlton Hotel in Perth. 2. The hotel features luxury amenities, enhancing TGE's hospitality expansion. 3. Closing subject to customary conditions, indicating a future investment boost.

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FAQ

Why Bullish?

The acquisition of a high-profile luxury hotel can boost AMTD's brand and revenue. Historical acquisitions of prestige properties often lead to positive market reactions.

How important is it?

The article discusses a significant acquisition that aligns with AMTD's growth strategy, enhancing overall market perception.

Why Long Term?

The acquisition will likely lead to sustained revenue growth as the hospitality sector rebounds. Historical patterns indicate that investments in real estate yield benefits over multiple quarters.

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, /PRNewswire/ -- AMTD Group Inc. ("AMTD Group"), AMTD IDEA Group (NYSE: AMTD; SGX: HKB), AMTD Digital Inc. (NYSE: HKD) and The Generation Essentials Group ("TGE", NYSE: TGE), a subsidiary of AMTD Digital Inc., jointly announce that TGE has entered into an agreement with the seller to acquire the Ritz Carlton Hotel, located in Perth, the vibrant capital city of Western Australia, which is the 100th Ritz Carlton Hotel in the globe. Closing of the deal is subject to customary closing conditions. As part of a landmark development at the Elizabeth Quay, this riverfront Ritz Carlton Hotel comprises 209 luxury rooms, a restaurant and lounge, a bar, a spa complex, an infinity pool, a fitness centre and event rooms. It offers stunning views of the Swan River and Kings Park, providing guests with a contemporary interpretation of local culture, history, and cuisine, and connecting them to Perth's rich lifestyle. This acquisition represents another important step for TGE's expansion in the global hospitality sector. 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 OfficeAMTD IDEA GroupEMAIL: [email protected]  For AMTD Digital Inc.:IR OfficeAMTD Digital Inc.EMAIL: [email protected]  For The Generation Essentials Group:IR OfficeThe Generation Essentials GroupEMAIL: [email protected] SOURCE AMTD Digital; AMTD IDEA Group; The Generation Essentials Group

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