The Generation Essentials Group, or TGE, has acquired the Hilton Garden Inn Hotel in New York’s Tribeca neighborhood for $69 million, per a Monday press release.
TGE, a subsidiary of France-based media company AMTD Digital, has rebranded the property as AMTD IDEA Tribeca Hotel.
The sale is a “strategic milestone for TGE’s hospitality portfolio,” due in part to the hotel’s size, central location and retail potential, per the release. The company added that the property furthers its “commitment to premium assets" and offers proximity to Tribeca’s local art, fashion and culture scene.
The 151-key property also features a fitness center, 5,000 square feet in retail space and subway access, per a December release.
The company also said it has plans to convert the hotel into the “world's first Art Newspaper House.”
TGE owns The Art Newspaper, an online and print publication that covers the international art world, per a November 2025 release.
According to that release, the forthcoming art newspaper hotel will “cultivate an environment of refined taste and deep cultural appreciation.” TGE aims to open four to five hotels under this branding concept within the next five years, and said that some of those properties could feature an “exclusive private club and premium dining experiences.”
The Hilton Garden Inn Tribeca/New York was recently at the center of an immigration-related demonstration in January, when dozens of protesters occupied the lobby and accused the hotel of housing U.S. Immigration and Customs Enforcement agents.
