TGE is set to acquire The Ritz-Carlton, Perth at Elizabeth Quay
AMTD Digital subsidiary, The Generation Essentials Group (TGE), says it’s agreed terms with an (undisclosed) seller to buy The Ritz-Carlton, Perth at Elizabeth Quay, with completion to follow once all closing conditions are ticked off. Price? Not being shared just yet.
Sitting on the Swan River in the CBD’s marquee waterfront precinct, The Ritz-Carlton, Perth opened in 2019 and brings 205 rooms and suites, a restaurant and lounge, bar, fitness centre, spa, an infinity pool and flexible event spaces. It also holds a bit of brand history, marking the 100th Ritz-Carlton globally and slotting into Marriott International’s luxe lineup.
The move fits TGE’s push to scale up in global hospitality. Beyond hotels, the France-headquartered group spans multimedia, entertainment, cultural projects and VIP services, and counts brands like L’Officiel and The Art Newspaper under its umbrella, plus various cinema and entertainment ventures. TGE itself was formed through a partnership between AMTD Group, AMTD IDEA Group and AMTD Digital.
The Perth acquisition follows AMTD Group’s update last week that it’s in talks on multiple hotel buys worldwide, including one New York City asset under exclusive negotiation. The group is eyeing opportunities across Europe, Southeast Asia, Australia and New Zealand, and is targeting a portfolio topping 1,000 rooms over the next 12–15 months.
Also on the drawing board: TGE’s board has greenlit The Art Newspaper Hotel concept, with the first property slated to open in 2026 or 2027. The plan is to roll out four to five hotels globally under that brand over the next five years.
Jonathan Jackson, 12th November 2025
