AMTD acquires 50% stake in The Ritz-Carlton, Perth in A$280m deal
Global conglomerate AMTD has entered Australia's luxury hotel market, completing the purchase of a 50% interest in The Ritz-Carlton, Perth through its subsidiary The Generation Essentials Group (TGE). The transaction values the Elizabeth Quay property at A$280 million (approximately US$201 million), with TGE's share acquired for A$100 million.
The 205-room hotel sits within Perth's Elizabeth Quay precinct on the Swan River waterfront and holds the distinction of being the 100th property to open under the Ritz-Carlton brand globally.
The acquisition comes during a period of measurable growth in Western Australia's tourism sector. According to Briefglance.com, international visitor arrivals to the state for the year ending June 2025 reached 941,000, a rise of nearly 15%, while visitor spending climbed 43.6% to A$3.46 billion over the same period. Hotel occupancy across Perth has ranged between 74% and 86% over the past year.
The deal also carries institutional significance for AMTD. The group traces its origins to 2003 with involvement from the Commonwealth Bank of Australia, making the Perth investment a return to its founding market.
The Perth property brings AMTD's total hospitality portfolio close to 1,000 rooms, a milestone the group had targeted within 15 months of late 2025. Existing holdings include the iclub AMTD Sheung Wan Hotel in Hong Kong, Dao by Dorsett AMTD Singapore, a Hilton Garden Inn in New York's Tribeca neighbourhood, the Dao by Dorsett AMTD in London's Hornsey district, and the Upper View Regalia Hotel in Kuala Lumpur.
TGE, a subsidiary of France-headquartered AMTD Digital Inc., listed on the NYSE in June 2025 via a de-SPAC transaction and has also sponsored a special purpose acquisition company, TGE Value Creative Solutions Corp., to support further acquisitions.
AMTD has described its broader approach as a "super connector" model, aimed at creating linkages across its interests in digital media, financial services, education, and hospitality. One illustration of this approach is the planned conversion of its recently acquired New York hotel into what the group has described as the world's first "Art Newspaper House," integrating TGE's media asset The Art Newspaper into the hotel experience. TGE's media holdings also include fashion and lifestyle brand L'Officiel and fintech publication DigFin.
The group is aiming to double revenue from its hotel segment, and continues to evaluate further opportunities in Europe and Southeast Asia.
The Ritz-Carlton operates alongside several other established luxury brands in Perth, including Crown Towers, COMO The Treasury, and Westin. The Western Australian government has set a target of growing the state's visitor economy to A$25 billion by 2033.
Jonathan Jackson, 2nd June 2026
