AMTD Digital's Subsidiary TGE Successfully Executed Multiple SPAs for Hotel Acquisitions to Add USD 300 million Worth of Assets

Rhea-AI Summary

AMTD Digital (NYSE:HKD) subsidiary TGE executed multiple sales and purchase agreements on Dec 24, 2025 to acquire hotels including the Hilton Garden Inn New York City Tribeca.

The announced deals include three definitive acquisition agreements and a total valuation of >USD 300 million, which would add ~500 rooms to TGE's portfolio within six months if consummated. The Tribeca property comprises 151 rooms, >5,000 sq ft of retail F&B space, a rooftop, fitness and business centers. Closing remains subject to customary closing conditions.

Positive

• Total transaction valuation exceeds USD 300 million
• Portfolio expansion of approximately 500 rooms if deals consummate
• Acquisition includes a 151-room Hilton Garden Inn in Tribeca, NYC
• Retail and rooftop amenities expand F&B and guest offerings

Negative

• All acquisitions are subject to customary closing conditions
• Projected 500-room expansion is conditional and described as "if consummated"

Key Figures

Tribeca hotel rooms 151 rooms Hilton Garden Inn New York City Tribeca asset description

Retail space 5,000 square feet Food and beverage retail area at Tribeca hotel

2025 hotel deals 4 acquisition deals TGE hotel acquisitions announced in financial year 2025

Hotel asset valuation over USD300 million Total valuation of three recent hotel acquisition agreements

Planned room expansion approximately 500 rooms Expected portfolio expansion over six months if deals close

Revenue growth 1,085.9% Half-year revenue increase reported in Oct 31, 2025 6-K

KL hotel SPA value HK$300 million Upper View Regalia Hotel 80% stake SPA on Dec 15, 2025

Ritz-Carlton Perth value A$280 million Stated total value for 50% interest per Dec 15, 2025 6-K

Market Reality Check

$1.04 Last Close

Volume Volume 142,947 is about 0.34x the 20-day average of 418,263, indicating subdued trading ahead of this news. low

Technical Shares at $1.35 are trading below the 200-day MA of $1.84 and sit near the 52-week low of $1.333, far from the $5.47 52-week high.

Peers on Argus

Sector peers show mixed moves: some gains (e.g., APPS up 2.35%, RBBN up 1.03%) and some declines (e.g., ALTS down 3.33%), suggesting HKD’s -2.17% move is more stock-specific than part of a broad sector trend.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 19	Marketing initiative	Positive	+0.7%	Global L'OFFICIEL HOMMES project featuring Jay Chou across seven editions.
Dec 19	SPAC IPO pricing	Positive	+0.7%	TGE-sponsored SPAC priced 15M-unit IPO and began NYSE trading.
Dec 15	Brand event	Positive	-6.9%	L'OFFICIEL fashion show hosted at London Stock Exchange venue.
Dec 15	Hotel acquisition SPA	Positive	-6.9%	TGE SPA to acquire majority stake in Kuala Lumpur hotel property.
Dec 11	Capital structure update	Neutral	-3.2%	TGE disclosure of total voting rights and outstanding warrants.

Pattern Detected

Recent TGE- and branding-related announcements have produced mixed reactions, with some positive marketing and SPAC news aligning with modest gains while hotel and event updates at times coincided with notable selloffs.

Recent Company History

Over the past weeks, HKD-linked news has centered on The Generation Essentials Group’s expansion and brand-building. On Dec 11, TGE detailed its capital structure and voting rights, followed by a hotel SPA in Kuala Lumpur on Dec 15 and a London Stock Exchange fashion event around the same time. On Dec 19, TGE priced a SPAC IPO and AMTD companies launched a Jay Chou global campaign. Today’s announcement of additional hotel assets continues this hospitality and lifestyle scaling trajectory.

Market Pulse Summary

The stock is up +6.7% following this news. A strong positive reaction aligns with TGE’s strategy of rapidly building a global hospitality footprint. Investors previously saw mixed reactions to hotel SPAs and brand events, with some announcements coinciding with selloffs. The stock’s position near its 52-week low and below the 200-day MA could have amplified any upside as sentiment shifted. However, past divergence on seemingly positive news suggests that follow-through often depended on execution milestones and closing of announced transactions.

Key Terms

sales and purchase agreement financial

"announce jointly the successful execution of a sales and purchase agreement"

A sales and purchase agreement is a written contract that sets out the specific terms for buying and selling assets, shares, or a business, including the price, what is transferred, payment schedule, and any conditions that must be met before the deal closes. Investors care because it creates binding promises that determine when ownership and risks change, possible future obligations or liabilities, and how the transaction will affect a company’s value and cash flows—like a recipe and checklist that decides whether and how a deal will actually happen.

SPA financial

"successful execution of a sales and purchase agreement ("SPA") for the 100% acquisition"

A sale and purchase agreement (SPA) is a legally binding contract that lays out the exact terms for buying or selling a company, business unit, or shares, including price, what is being transferred, and conditions that must be met before the deal closes. For investors it matters because the SPA determines who gets what, when money changes hands, what warranties or indemnities protect buyers and sellers, and therefore directly affects the value, timing and risk of a transaction — much like a detailed recipe and checklist for a home sale.

SPAC financial

"completion of its de-SPAC transaction with a special purpose acquisition company"

A special purpose acquisition company (SPAC) is a company formed specifically to raise money through an initial public offering (IPO) with the goal of buying or merging with an existing private company. For investors, a SPAC offers a way to invest in a potential future business without initially knowing which company it will acquire, making it a way to access new investment opportunities that might otherwise be difficult to invest in directly.

de-SPAC transaction financial

"after TGE's completion of its de-SPAC transaction with a special purpose acquisition company"

A de-SPAC transaction is the process by which a privately held company becomes a public company by combining with a special purpose acquisition company (SPAC), allowing the private business to start trading on a stock exchange without a traditional initial public offering. It matters to investors because it suddenly opens a new investment opportunity but also brings rapid changes in ownership, fresh financial disclosures and potential price volatility and dilution—think of a local shop joining a national franchise and immediately being sold to the public.

special purpose acquisition company financial

"completion of its de-SPAC transaction with a special purpose acquisition company under Lawrence Ho's"

A special purpose acquisition company (SPAC) is a company formed with the sole purpose of raising money through a public offering to buy or merge with an existing private business. It acts like a vehicle that allows private companies to go public more quickly and with less complexity. For investors, it offers an opportunity to invest early in a potential acquisition, though it also carries risks if the intended deal doesn’t materialize.

IPO financial

"SPAC listing involves a total valuation of over USD300 million of assets"

An initial public offering (IPO) is the process by which a private company sells its shares to the public for the first time, making its ownership available on the stock market. This allows the company to raise money from a wide range of investors to fund growth or other goals. For investors, an IPO offers a chance to buy into a company early in its public journey, potentially benefiting if the company grows in value.

AI-generated analysis. Not financial advice.

PARIS and NEW YORK and LONDON, Dec. 24, 2025 /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., announce jointly the successful execution of a sales and purchase agreement ("SPA") for the 100% acquisition of the Hilton Garden Inn New York City Tribeca. Closing of the acquisition is subject to customary closing conditions.

Located at the heart of Tribeca along Avenue of the Americas and bordered by SoHo, Hudson Square, and Battery Park, the Hilton Garden Inn New York City Tribeca is the center of Lower Manhattan's most dynamic and evolving neighborhoods. The hotel features 151 rooms, more than 5,000 square feet of retail space designated for food and beverage operations, a rooftop area, and amenities including a fitness center and a business center.

Having created the size and magnitude of a fast growing and a globally independent hotel group, TGE celebrates 2025 as a pivotal year for expanding its hospitality business sector, TGE has 4 acquisition deals announced in major cities around the world within the financial year 2025. The successful execution of the SPA of the New York hotel stands out as a significant milestone as TGE closes out the year.

The recent execution of definitive acquisition agreements in relation to three hotels, after TGE's completion of its de-SPAC transaction with a special purpose acquisition company under Lawrence Ho's Black Spade Capital, involves a total valuation of over USD300 million of assets and is expected to result in a rapid expansion of TGE's hotel portfolio by approximately 500 rooms in just 6 months if consummated.

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: tge@amtd.world 

View original content:https://www.prnewswire.com/news-releases/amtd-digitals-subsidiary-tge-successfully-executed-multiple-spas-for-hotel-acquisitions-to-add-usd-300-million-worth-of-assets-302649247.html

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

FAQ

What did TGE announce on Dec 24, 2025 regarding hotel acquisitions (HKD)?

TGE executed multiple SPAs, including one for the Hilton Garden Inn NYC Tribeca, as part of deals totaling over USD 300 million.

How many rooms will AMTD Digital's TGE add from the Dec 2025 deals (HKD)?

The agreements are expected to expand TGE's portfolio by approximately 500 rooms within six months if consummated.

What are the key features of the Hilton Garden Inn New York City Tribeca acquisition?

The property has 151 rooms, over 5,000 sq ft of retail F&B space, a rooftop, fitness center and business center.

Is the Hilton Garden Inn New York City Tribeca acquisition closed for HKD/TGE?

No, the acquisition execution is announced but closing is subject to customary closing conditions.

Does the USD 300 million figure reflect completed purchases or announced agreements for HKD?

The USD 300 million refers to definitive acquisition agreements executed; consummation is conditional per the announcement.