TGE, a subsidiary of AMTD Digital, has entered into an agreement to acquire the Ritz‑Carlton hotel in Perth, Western Australia. The deal is subject to customary closing conditions and will be finalized once those conditions are met.
The Perth property, located at Elizabeth Quay, boasts 209 rooms, a restaurant, lounge, bar, spa, infinity pool, fitness centre and event spaces, and offers views of the Swan River and Kings Park. The acquisition adds a high‑profile luxury asset to TGE’s portfolio.
The transaction aligns with AMTD IDEA Group’s strategy to diversify into hospitality and premium assets. The group has been pursuing a portfolio of over 1,000 rooms across the Asia‑Pacific, and the Perth Ritz‑Carlton strengthens its presence in a major Australian market.
While the purchase price has not been disclosed, the deal is expected to generate stable, recurring revenue and create synergies with the group’s digital and media businesses. TGE’s first‑half 2025 revenue rose 160% year‑over‑year, with the hospitality segment contributing $12.7 million, underscoring the financial momentum behind the expansion.
The acquisition also positions AMTD IDEA Group to leverage the Ritz‑Carlton brand’s global recognition, potentially driving cross‑promotion opportunities and enhancing customer experience across its portfolio. Management has highlighted the importance of brand integration and operational efficiencies as key drivers of value creation.
The move aligns with the broader recovery of the Australian hospitality market, where domestic and international tourism is rebounding. The group’s broader financial performance—AMTD Digital’s 1,085.9% revenue growth in the six months to April 30 2025—provides a strong capital base for the investment.
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