AMTD’s digital subsidiary, Generation Essentials Group (TGE), has completed the $69 million acquisition of the Hilton Garden Inn Hotel in Tribeca, New York City, USA.
The property has been rebranded as the AMTD IDEA Tribeca Hotel.
TGE has announced plans to transform the hotel into what it describes as the home of the world’s first art newspaper.
According to the company, the property offers accommodations in a neighborhood setting, close to Tribeca’s art, fashion, and cultural venues. The location provides guests with access to local experiences.
TGE considers this acquisition an important milestone for its hospitality portfolio. The hotel’s size, central location and retail potential are said to be consistent with the company’s focus on premium assets and provide opportunities for improved operations.
The company is jointly founded by AMTD Group, AMTD IDEA Group and AMTD Digital and is headquartered in France. Overall, it has a diversified portfolio of media and entertainment businesses and a global portfolio of premium properties.
In December 2025, TGE executed a sale and purchase agreement to fully acquire the Hilton Garden Inn New York City Tribeca.
The property includes 151 rooms, more than 5,000 ft² of retail space for food and beverage operations, a rooftop area, a business center, and a fitness center.
During the same month, TGE concluded a sale and purchase agreement (SPA) to acquire a 50% interest in the Ritz-Carlton Hotel in Perth, Australia, for $66.4 million.
The agreement was signed with FEC Holdings and FEC Hotel, which agreed to sell the shares under the conditions set out in the agreement. The transaction included the purchase of shares of stock and the assignment of a sale loan.
“TGE Completes Acquisition of Hilton Garden Inn Hotels in US” was originally published by Hotel Management Network, a brand owned by Global Data.
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