Far East Consortium Weighs Partial Sale of Ritz-Carlton Perth Stake to AMTD

Far East Consortium International Limited (FEC) has entered into a non-binding term sheet with a wholly-owned subsidiary of AMTD Group for the possible sale of certain interests in The Ritz-Carlton, Perth, Australia. According to the term sheet, an initial deposit of AUD 20 million (approx. HKD 101.2 million) is to be paid within five business days, subject to refund under specific conditions.

The potential deal would result in joint ownership of the Perth hotel between FEC’s subsidiary and AMTD’s subsidiary, though the agreement remains non-binding except for certain items such as confidentiality and the initial payment. 

This strategic move occurs in the context of FEC’s broader real estate and hospitality portfolio management. The company previously announced intentions to divest or co-partner on luxury assets, including venues in Australia, to unlock value and reallocate capital. 

However, investors and market watchers should note that the transaction remains conditional and not yet finalised. FEC’s announcement emphasises that the term sheet is non-binding, and the initial payment is refundable, meaning there is no guarantee of completion.