AMTD Digital Inc. announced that its subsidiary, The Generation Essentials Group (TGE), has entered into an agreement to acquire the 209‑room Ritz‑Carlton Hotel on Elizabeth Quay in Perth, Western Australia. The property, which opened in 2019, is a flagship luxury hotel and is described in the announcement as the 100th Ritz‑Carlton property worldwide, a milestone that some sources attribute to an internal count rather than the current global total of 119 properties.
The transaction price was not disclosed, and the deal is subject to customary closing conditions. TGE expects the acquisition to close within the next 12 to 15 months, aligning with its stated goal of expanding its hotel portfolio to over 1,000 rooms.
Financial context underscores the strategic importance of the deal. In the first half of 2025, TGE reported revenue of $87.4 million, a 160 % increase from the prior year, with its hospitality segment contributing $12.7 million. AMTD Digital’s overall first‑half revenue reached $73.2 million, up 1,085.9 % year‑over‑year, driven largely by growth in its hospitality and digital media businesses.
The acquisition is a key component of AMTD Digital’s broader strategy to diversify beyond digital media and finance into high‑margin hospitality. By adding a Ritz‑Carlton brand, the company gains a globally recognized luxury asset that can be leveraged through its SpiderNet platform, which integrates digital media, financial services, and hospitality offerings. This ecosystem approach is intended to create cross‑selling opportunities and deepen customer engagement.
Strategically, the Perth hotel positions TGE in a major Australian market and provides a platform for further expansion in the Asia‑Pacific region. The company has indicated that it aims to double its hospitality revenue in the next 12 to 15 months, and the Perth acquisition is a concrete step toward that target.
While the deal value remains undisclosed, the announcement signals AMTD Digital’s confidence in the long‑term growth of the luxury hotel sector and its commitment to building a diversified, integrated business model that blends physical hospitality assets with digital services.
The move is expected to enhance AMTD Digital’s brand equity, broaden its revenue mix, and create new synergies between its hospitality operations and its digital ecosystem. The company’s leadership has emphasized that the acquisition will strengthen its competitive position in the high‑end travel and events market.
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