AMTD is in final-stage negotiations to acquire a second hotel in New York City, continuing the expansion of its international hospitality portfolio. The targeted property is located in the Times Square area.
AMTD said the parties are working toward a definitive purchase agreement and are targeting a closing before the end of 2026.
However, the company cautioned that there is no certainty that the proposed acquisition will ultimately be completed.
The potential transaction follows AMTD’s acquisition in March 2026 of a hotel at 39 6th Avenue in New York for $69 million in cash.
That property has since been rebranded as the AMTD IDEA Tribeca Hotel.
AMTD currently operates a portfolio of six hotel properties spanning Hong Kong, Singapore, New York, London, Perth and Kuala Lumpur.
Together, the properties contain 919 rooms across four continents.
If the second New York acquisition is completed, AMTD expects its global hotel portfolio to exceed 1,000 rooms.
The company views the potential acquisition as another step toward building an independent global hotel group operating under the AMTD brand.
AMTD also said it believes the targeted property could become another profit contributor for the group.
The hospitality strategy is being pursued through a group that includes AMTD Group, AMTD IDEA Group, AMTD Digital and The Generation Essentials Group.
