Paris – – September 30, 2026 -- The Generation Essentials Group (NYSE: TGE; LSE: TGE) reported net profit of US$22.8 million for the six months ended June 30, 2026, a 9.9-fold increase driven by an aggressive expansion of its global hotel portfolio.
Revenue climbs 35.8% as hospitality segment surges 59.8%
Revenue from contracts with customers rose to US$30.8 million in the first half of 2026, up 35.8% year-on-year. The hotel operations, hospitality, and VIP services segment expanded 59.8%, becoming the primary growth driver following the acquisition and integration of four hotel properties in New York, Perth, Kuala Lumpur, and London.
EPS jumps 366.7% to US$0.56 as balance sheet expands to US$1.8 billion
Earnings per share increased 366.7% to US$0.56. Total assets stood at US$1.8 billion, equivalent to US$37.2 per share, while net asset value reached US$932.5 million, or US$19.2 per share.
Four hotel acquisitions anchor multi-region portfolio push
TGE completed the acquisition of The Ritz-Carlton Perth, a 205-room asset, for A$100 million, extending its luxury hospitality footprint in Asia-Pacific. In North America, the Group acquired the 151-room New York Tribeca Hotel for US$69 million. In Southeast Asia, it purchased the 129-room Upper View Regalia Hotel in Malaysia for US$38 million. The Group also entered the UK market with the US$30 million acquisition of the Dao by Dorsett Hornsey Hotel in London, comprising 68 serviced apartments and hotel rooms.
L'Officiel brand extends into food and beverage with second Macao venue
Following the launch of its inaugural L'Officiel Coffee in Omotesando, Japan, TGE opened its second L'Officiel Coffee and Bar in Macao SAR in May 2026, offering branded specialty coffees and desserts including L'Officiel magazine cakes. Management also finalized groundwork for 2026 launches of L'Officiel Taiwan and L'Officiel Singapore ShiZhuang, targeting Asia's luxury advertising and consumer segments.
Feridun Hamdullahpur, Director of TGE, said the period marked an outstanding growth year, with the addition of new hotels and the L'Officiel Coffee & Bar expanding the Group's global presence.