AMTD Digital's subsidiary TGE in Exclusive Negotiations to Acquire a New York Hotel

Rhea-AI Summary

AMTD Digital (NYSE:HKD) subsidiary The Generation Essentials Group (TGE) is the exclusive bidder to acquire a New York City hotel with at least 150 rooms, >5,000 sq ft of F&B retail space, a rooftop and amenities.

Parties are in exclusive negotiations aiming for a end‑of‑2025 closing and a definitive purchase agreement; the deal remains subject to conditions in the final agreements.

AMTD currently operates 366 rooms (98-room iclub AMTD Sheung Wan; 268-room Dao by Dorsett AMTD Singapore). If the New York and previously announced London (68 rooms) deals complete, the portfolio could rise by 219 rooms to 585 rooms, a ~59.84% increase.

Positive

• TGE is the exclusive bidder for a New York hotel
• Target property contains at least 150 rooms
• 5,000+ sq ft of retail F&B space included
• Portfolio could increase by 219 rooms to 585 rooms
• Potential portfolio growth of ~59.84%

Negative

• Acquisition is in exclusive negotiation stage, not yet definitive
• Transaction completion is subject to conditions in final agreements
• Target closing is only planned for end‑2025, creating timing risk

PARIS, NEW YORK and SINGAPORE, Nov. 3, 2025 /PRNewswire/ -- AMTD IDEA Group ("AMTD IDEA Group") (NYSE: AMTD; SGX: HKB) and The Generation Essentials Group ("TGE", NYSE: TGE), a subsidiary of AMTD Digital (NYSE: HKD), jointly announce that TGE has become the exclusive bidder in relation to an acquisition of a hotel located in the New York City.

This New York hotel features at least 150 rooms, along with over 5,000 square feet of retail space designated for F&B operations, a rooftop area, and amenities including a fitness centre and a business centre etc.

The relevant parties are currently in exclusive negotiation stage and are working towards a definitive purchase agreement, with a target closing date set for the end of 2025. The proposed acquisition will be subject to the satisfaction of various conditions to be set forth in the definitive agreements.

Today, AMTD's hotel portfolio includes 366 rooms, comprising the iclub AMTD Sheung Wan Hotel in Hong Kong with 98 rooms and the Dao by Dorsett AMTD Singapore with 268 rooms.

Assuming the New York hotel acquisition can be completed, along with the previously announced London hotel - "Dao by Dorsett AMTD Hornsey" with 68 rooms, the total number of rooms could potentially increase by 219, bringing the overall AMTD hotel portfolio to 585 rooms, representing a growth of approximately 59.84%. 

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), 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.

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 and/or AMTD Digital, 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: tge@amtd.world 

View original content:https://www.prnewswire.com/news-releases/amtd-digitals-subsidiary-tge-in-exclusive-negotiations-to-acquire-a-new-york-hotel-302602487.html

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

FAQ

What New York asset is TGE (NYSE:TGE) negotiating to acquire on Nov 3, 2025?

TGE is the exclusive bidder for a New York City hotel with at least 150 rooms, rooftop, amenities and >5,000 sq ft of F&B retail space.

How would the New York hotel affect AMTD Digital (NYSE:HKD) room count if completed?

If completed alongside the announced London hotel, AMTD's portfolio could rise by 219 rooms to 585 rooms, a ~59.84% increase from 366 rooms.

What is the expected closing timeline for the TGE New York hotel acquisition?

Parties are targeting a end‑of‑2025 closing, subject to conditions in definitive agreements.

Is the TGE acquisition of the New York hotel finalized as of Nov 3, 2025?

No; the transaction is at the exclusive negotiation stage and remains subject to satisfaction of conditions and a definitive purchase agreement.

How many rooms does AMTD's hotel portfolio include before the potential acquisition?

AMTD's hotel portfolio currently includes 366 rooms: 98 rooms at iclub AMTD Sheung Wan and 268 rooms at Dao by Dorsett AMTD Singapore.