AUSTRALIA | TGE Group has pursued the acquisition of the 100th Ritz Carlton Hotel, located in Perth, Western Australia.
TGE, a subsidiary of AMTD Digital Inc., has entered into an agreement with the seller to acquire the Ritz Carlton Hotel, located in Perth, the vibrant capital city of Western Australia, which is the 100th Ritz Carlton Hotel in the world. Closing of the deal is subject to customary closing conditions.
As part of a landmark development at the Elizabeth Quay, this riverfront Ritz Carlton Hotel comprises 209 luxury rooms, a restaurant and lounge, a bar, a spa complex, an infinity pool, a fitness centre and event rooms. It offers stunning views of the Swan River and Kings Park, providing guests with a contemporary interpretation of local culture, history, and cuisine, and connecting them to Perth's rich lifestyle.
This acquisition represents another important step for TGE's expansion in the global hospitality sector.
AMTD Group is a conglomerate with a core business portfolio spanning across media and entertainment, education and training, and premium assets and hospitality sectors.
Recently, the board of TGE approved a strategic plan to build and develop The Art Newspaper Hotel brand globally.
Leveraging The Art Newspaper's position in the art world, each The Art Newspaper Hotel will cultivate an environment of refined taste and deep cultural appreciation. Furthermore, the hotels are expected to feature exclusive private clubs and premium dining experiences, fostering a truly distinctive and sophisticated atmosphere.
Based on this strategic direction, the board of TGE has approved plans for TGE to establish the world's first The Art Newspaper Hotel in 2026 or 2027. TGE aims to expand this hotel brand globally, with a target of opening four to five hotels within the next five years.
AMTD Group is a conglomerate with a core business portfolio spanning media and entertainment, education and training, and premium assets and hospitality sectors. 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.
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