AMTD Group Inc., AMTD IDEA Group, AMTD Digital Inc. and The Generation Essentials Group, a subsidiary of AMTD Digital Inc., have completed TGE's acquisition of the Hilton Garden Inn Hotel in New York City's Tribeca neighborhood for $69 million. Other terms and conditions were not disclosed although Eastdil Secured advised the seller on the deal.
The property is now rebranded as AMTD IDEA Tribeca Hotel. In the future, the hotel will be converted to become the world's first Art Newspaper House.
The completion is a strategic milestone for TGE's hospitality portfolio. The hotel's scale, location and retail potential align with TGE's commitment to premium assets and unlock opportunities for enhanced operations, cross–segment synergies and sustained long–term value creation, according to the company.