News Summary

• AMTD Digital subsidiary The Generation Essentials Group (TGE) has reached an agreement to purchase the Ritz Carlton hotel in Perth, Western Australia.
• The unnamed seller and TGE have finalised terms for the acquisition.
• No financial details of the agreement have been disclosed at this time.
• The planned acquisition aligns with TGE’s stated intention to expand its activities in the global hospitality sector.
• TGE plans to roll out this hotel brand internationally, aiming to open four to five hotels worldwide over the next five years.