TGE, a subsidiary of AMTD Digital, is in exclusive negotiations to acquire a New York City hotel with at least 150 rooms, over 5,000 square feet of retail space, a rooftop, fitness centre and business centre. The parties aim to finalize a definitive purchase agreement with a target closing date at the end of 2025.
The acquisition would raise AMTD Digital’s hotel portfolio from 366 rooms to 585 rooms, a 59.84% increase, and would add a high‑profile U.S. property to its existing Hong Kong and Singapore hotels. The move is part of the company’s strategy to diversify its geographic footprint and tap into the premium New York market.
AMTD Digital reported a 1,085.9% revenue increase for the six months ended April 30, 2025, driven largely by the consolidation of TGE and growth in its hotel and hospitality businesses. Hotel operations revenue rose 172.4% to $13.6 million in the same period, underscoring the financial momentum behind the expansion.
The New York deal is valued at an undisclosed amount, but industry estimates suggest a multi‑million‑dollar transaction. The parties are conducting due diligence and will seek regulatory approvals before closing. Market conditions in New York remain robust, with strong demand from business travel and tourism, though competition remains intense.
TGE’s broader portfolio includes media and entertainment assets such as L’Officiel and The Art Newspaper, reflecting the group’s diversified strategy beyond hospitality. The New York acquisition aligns with AMTD IDEA Group’s goal of building a diversified investment holding company with a strong presence in Asia and beyond.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.