AMTD’s TGE completes US$72 million purchase of 50% stake in The Ritz-Carlton, Perth
SGX Filings
May 30
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.
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