\u201cThis acquisition reflects our long-term conviction in Miami\u2019s lodging fundamentals and the sustained strength of its local economy,\u201d said Alessandro Colantonio, Chief Investment Officer at Gencom. \u201cHaving previously owned The Ritz-Carlton Coconut Grove, we recognize the enduring value of the asset and the importance of Coconut Grove as one of Miami\u2019s most established and in-demand submarkets for both leisure and business travel. Regaining a majority ownership in this iconic property enables us to further scale our hospitality platform in Miami, one of North America\u2019s most compelling and resilient tourism markets.\u201d<\/p>\n
Miami\u2019s Coconut Grove waterfront neighborhood has emerged as one of the city\u2019s most authentic and highly coveted communities. Known for its lush streets, historic charm, and vibrant cultural scene, the Grove has seen significant growth and redevelopment in recent years. The addition of several Class A office buildings has attracted new residents and businesses, while the revitalization of its anchor lifestyle center, Cocowalk, has introduced dozens of restaurants, retail shops, and a new movie theater. Coupled with the development of luxury condos and hotels, these enhancements have strengthened Coconut Grove\u2019s position as a premier live-work-play district. Today, the neighborhood offers a unique blend of luxury living, shopping, dining, cultural attractions and entertainment, making it one of Miami\u2019s most appealing destinations for residents, visitors, and investors alike.<\/p>\n
Gencom\u2019s Miami holdings include the recently reopened Ritz-Carlton Key Biscayne, Miami following a $100 million renovation and Miami Riverbridge, a transformational, privately funded mixed-use development planned along the Miami River, reinforcing the firm\u2019s long-term conviction in the city\u2019s growth and waterfront revitalization. The company\u2019s illustrious branded hotel portfolio also includes other Marriott Hotels brands such as The Ritz-Carlton Bachelor Gulch; The Ritz-Carlton Philadelphia; The Ritz-Carlton New Orleans; The St. Regis Chicago; and Nekajui, a Ritz-Carlton Reserve; in addition to other five-star flags such as Auberge, Four Seasons, Rosewood, Fairmont, Hyatt, InterContinental, and more.<\/p>\n
Gencom is a U.S.-based investment firm that owns, operates and develops prized real estate around the world, with an emphasis on luxury hotels, resorts and branded residential properties; and which is also an active owner and investor in hospitality operating platforms. Gencom\u2019s current real estate portfolio is comprised of some of the world\u2019s most iconic hotels, resorts, and destinations which are amongst the leading properties in the industry with key operating partners such as Four Seasons, Ritz-Carlton, Rosewood, Auberge, Fairmont, Hyatt, and Marriott. <\/p>\n
Founded more than 40 years ago, Gencom has grown to become one of the nation\u2019s leading firms specializing in the development and management of luxury resort and residential properties, alongside full-service hospitality operating platforms. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and includes 24 owned assets in operation or under development with over 6,000 hotel rooms around the world; in addition to 185 properties, comprised of 50,000 keys through its third-party management affiliate, Pyramid Global Hospitality, which oversees hotel property management and operations throughout the U.S. and Europe; and over 2 million square feet through affiliate Convene, a hospitality company that designs, builds, and manages premium meeting, event, and flexible office spaces. <\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThis acquisition reflects our long-term conviction in Miami\u2019s lodging fundamentals and the sustained strength of its local economy,\u201d…\n","protected":false},"author":2,"featured_media":98051,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[225,227,226],"class_list":{"0":"post-98050","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-hialeah","8":"tag-hialeah","9":"tag-hialeah-headlines","10":"tag-hialeah-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/98050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=98050"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/98050\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/98051"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=98050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=98050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=98050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}