Expanding the portfolio, TGE (NYSE: TGE) completes $69 million acquisition of New York Tribeca hotel

The Generation Essentials Group (TGE), a subsidiary of AMTD Digital Inc. (HKD), announced it completed the acquisition of the Hilton Garden Inn Hotel in New York City’s Tribeca neighborhood for $69 million.

The property, located at 39 6th Ave, New York, NY 10013, has been rebranded as AMTD IDEA Tribeca Hotel. The company stated it plans to convert the hotel into what it describes as the world’s first Art Newspaper House.

TGE is jointly established by AMTD Group, AMTD IDEA Group (AMTD; SGX: HKB) and AMTD Digital Inc. The company is headquartered in France and focuses on multimedia, entertainment, cultural affairs, hospitality and VIP services.

According to the press release, TGE comprises L’Officiel, The Art Newspaper, and movie and entertainment projects. The company also operates as a special purpose acquisition company sponsor manager, with its first SPAC raising funds in December 2025.