AMTD Digital’s subsidiary The Generation Essentials Group (TGE) has executed a sales and purchase agreement to completely acquire Hilton Garden Inn New York City Tribeca, US.

The Hilton Garden Inn New York City Tribeca, located on Avenue of the Americas and surrounded by Battery Park, SoHo, and Hudson Square, comprises 151 rooms, over 5,000ft² of retail space for food and beverage operations, a rooftop area, a business centre, and a fitness centre.

The closing of the acquisition remains subject to customary conditions.

TGE considers 2025 a pivotal year for its hospitality sector, with four acquisition deals announced in major cities globally within the financial year.

The sales and purchase agreement for the New York hotel marks a key milestone for TGE’s hotel business as it closes out the current year.

TGE has also executed definitive agreements for three additional hotels following its de-special purpose acquisition company (SPAC) transaction with a special purpose acquisition company under Black Spade Capital, led by Lawrence Ho.

These acquisitions, if completed, are expected to add nearly 500 rooms to TGE’s portfolio within six months, with a total asset value exceeding $300m.

AMTD Group operates across sectors including education and training, media and entertainment, as well as premium assets and hospitality.

Earlier this month, TGE finalised a sale and purchase agreement to acquire a 50% interest in The Ritz-Carlton Hotel in Perth, Australia, for A$100m ($66.4m).

The agreement was reached with FEC Holdings and FEC Hotel, which have agreed to sell the stake under the terms set out in the contract.