AMTD IDEA Group (AMTD) announced that its affiliate The Generation Essentials Group (TGE) has closed the acquisition of a 50% interest in The Ritz-Carlton, Perth for US$72 million (A$100 million), valuing the waterfront hotel at US$201 million (A$280 million).

The 205-room property, situated at Elizabeth Quay on the edge of the Swan River, includes restaurants, lounges, a bar, a spa, an infinity pool, a fitness centre and event facilities, and is the 100th hotel in the Ritz-Carlton portfolio.

The transaction lifts AMTD’s global hospitality holdings to nearly 1,000 rooms and marks a further expansion of the group’s presence in Australia, a market linked to AMTD’s origins in 2003.