AMTD Digital's Subsidiary TGE Announces Successful Completion of Acquisition of the New York Tribeca Hotel at US$69 Million

AMTD Digital (NYSE: HKD) subsidiary TGE completed the acquisition of the Hilton Garden Inn New York, Tribeca for US$69 million on March 9, 2026.

Rhea-AI Summary

AMTD Digital (NYSE: HKD) subsidiary TGE completed the acquisition of the Hilton Garden Inn New York, Tribeca for US$69 million on March 9, 2026. The property at 39 6th Ave, New York, NY 10013 is rebranded as AMTD IDEA Tribeca Hotel and is planned to be converted into the world’s first Art Newspaper House. The company said the deal expands TGE's hospitality portfolio, leverages a prime Tribeca location, and aims to unlock retail potential, operational synergies and long-term value creation.

Positive

• Acquisition of Tribeca hotel for US$69 million
• Property located at 39 6th Ave, New York in prime Tribeca location
• Rebrand to AMTD IDEA Tribeca Hotel with plan to create the world’s first Art Newspaper House
• Deal positioned to unlock retail potential and cross-segment synergies

Negative

• None.

Argus Mar 9 session

+5.13% close to close Open Argus

Details

News Market Reaction – HKD

In the Mar 9 session, HKD gained 5.13%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +5.1% in the session following this news. A strong positive reaction aligns with HKD...

Analysis

The stock moved +5.1% in the session following this news. A strong positive reaction aligns with HKD’s ongoing transformation into a diversified digital, media and hospitality platform. However, prior acquisition and deal headlines averaged a -7.23% move, showing past enthusiasm faded quickly. Investors would have monitored deal execution, integration of hotel assets, and balance-sheet updates in filings to gauge whether such gains might prove durable.

Key Figures

Tribeca hotel purchase price: US$69 million Kuala Lumpur hotel value: HK$300 million Upper View Regalia stake: 80% stake +5 more

Tribeca hotel purchase price

US$69 million

Acquisition of Hilton Garden Inn Tribeca, New York by TGE

Kuala Lumpur hotel value

HK$300 million

Upper View Regalia Hotel 80% stake SPA (Dec 15, 2025)

Upper View Regalia stake

80% stake

Kuala Lumpur hotel acquisition by TGE

Ritz-Carlton Perth total value

A$280 million

Title value for 50% stake in The Ritz-Carlton, Perth

Ritz-Carlton Perth consideration

A$100 million

Aggregate consideration per SPA for Perth transaction

Ritz-Carlton Perth rooms

205 rooms

Room count of The Ritz-Carlton, Perth hotel

Ritz-Carlton Perth luxury rooms

209 rooms

Room count cited for Perth Ritz-Carlton riverfront property

Upper View Regalia rooms

129 rooms

Room count at Kuala Lumpur Upper View Regalia Hotel

Previous Acquisition Reports

5 past events · Latest: Dec 15

Same Type 5 events

1. Dec 15

   Hotel acquisition SPA

   24h Move

   -6.9%

   TGE agreed to buy 80% of Kuala Lumpur’s Upper View Regalia Hotel.

2. Dec 08

   Hotel stake acquisition

   24h Move

   -0.7%

   TGE executed SPA for 50% stake in The Ritz-Carlton, Perth, Australia.

3. Nov 10

   Ritz-Carlton pursuit

   24h Move

   -9.5%

   TGE moved to acquire the 100th Ritz-Carlton hotel globally in Perth.

4. Nov 03

   NY hotel negotiations

   24h Move

   -18.6%

   TGE entered exclusive talks to acquire a large New York City hotel.

5. May 30

   SPAC combination approval

   24h Move

   -0.5%

   Black Spade II shareholders approved business combination with TGE.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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PARIS, NEW YORK and LONDON, March 9, 2026 /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; LSE: TGE), a subsidiary of AMTD Digital Inc., jointly announce the successful completion of TGE's acquisition of the Hilton Garden Inn Hotel in New York City, Tribeca at US$69 Million.

Located at 39 6th Ave, New York, NY 10013, the property is now rebranded as AMTD IDEA Tribeca Hotel (https://www.instagram.com/amtdideatribecahotel). Future plan has been announced to convert the hotel to become the world's first Art Newspaper House.

This hotel offers a refined neighborhood stay that unites modern comfort with effortless sophistication and exceptional local access, providing guests with a curated gateway to Tribeca's art, fashion, and culture.

The completion is a strategic milestone for TGE's hospitality portfolio. The hotel's scale, prime location and retail potential align with TGE's commitment to premium assets and unlock opportunities for enhanced operations, cross–segment synergies and sustained long–term value creation.

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; LSE: 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. Also, TGE is a special purpose acquisition company (SPAC) sponsor manager, with its first SPAC successfully raised and priced on December 18, 2025.

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, AMTD Digital and/or The Generation Essentials Group, 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 Office
AMTD IDEA Group
EMAIL: ir@amtdinc.com

For AMTD Digital Inc.:
IR Office
AMTD Digital Inc.
EMAIL: ir@amtdigital.net

For The Generation Essentials Group:
IR Office
The Generation Essentials Group
EMAIL: ir@tge.media

View original content:https://www.prnewswire.com/news-releases/amtd-digitals-subsidiary-tge-announces-successful-completion-of-acquisition-of-the-new-york-tribeca-hotel-at-us69-million-302707949.html

SOURCE AMTD Digital; AMTD IDEA Group; The Generation Essentials Group

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did AMTD Digital (HKD) announce about the Tribeca hotel acquisition on March 9, 2026?

TGE completed the purchase of the Hilton Garden Inn Tribeca for US$69 million. According to the company, the property at 39 6th Ave is rebranded and will be converted into an Art Newspaper House to broaden TGE's hospitality portfolio.

Where is the AMTD IDEA Tribeca Hotel located and what is its new purpose under TGE (NYSE: TGE)?

The hotel is at 39 6th Ave, New York, NY 10013 in Tribeca. According to the company, it will be rebranded and transitioned into the world’s first Art Newspaper House, combining hospitality with cultural retail and programming.

How much did TGE pay for the Hilton Garden Inn Hotel in Tribeca and when was the deal completed?

TGE acquired the property for US$69 million, with completion announced on March 9, 2026. According to the company, the transaction strengthens TGE's portfolio and targets long-term value creation through redevelopment.

What strategic benefits did AMTD Digital say the Tribeca acquisition will bring to investors in HKD?

The company said the acquisition adds a prime hospitality asset in Tribeca and aims to unlock retail potential and cross-segment synergies. According to the company, these moves target enhanced operations and sustained long-term value creation.

Will the Tribeca hotel be rebranded and what brand will it carry after the acquisition by TGE?

Yes, the property has been rebranded as AMTD IDEA Tribeca Hotel. According to the company, the rebrand supports plans to convert the site into the world’s first Art Newspaper House integrating culture and hospitality.