\nGencom\u2019s third luxury hotel acquisition in New York City in the last 16 months,
\nfollowing its acquisition of the Thompson Central Park<\/a> in 2024 and the
\nInterContinental New York Times Square<\/a> in December 2025.<\/p>\n
Alessandro
\nColantonio, chief investment officer at Gencom, told Hotel Investment Today
\nthat the acquisition came together quickly following the Intercontinental deal.<\/p>\n
\u201cWe started
\nworking on the opportunity in late 2025 just as we were wrapping up our
\nacquisition of the Intercontinental Times Square and we secured the deal just
\nbefore the November\/December holiday season,\u201d he said. \u201cFrom there, we were on
\na fast track to diligence, capitalization and closing. I\u2019m pleased to say that
\nfrom start to finish, navigating the holidays and year-end slowdown, it was
\nabout a 2.5-month process.\u201d<\/p>\n
![\"Quote\"](\"https:\/\/ik.imgkit.net\/3vlqs5axxjf\/HIT\/dist\/images\/icon-quote.svg?tr=w-70%2Ch-45%2Cfo-auto\" "\\"Quote\\"\/"){kind=icon}
<\/p>\n
Our strategy in New York City is one of a long-term, sustained view of the market and its ability to stay at the forefront of tourism and travel trends.<\/p>\n
Alessandro Colantonio<\/p>\n
New York
\nCity is an appealing market for Gencom for multiple reasons, Colantonio said.<\/p>\n
\u201cWe continue
\nto see an upward trajectory in demand, visitation and the ability to drive
\naverage rate. Now having meaningful scale in the market with approximately
\n1,500 owned keys, we can track a lot of travel patterns and data across the
\nsector.\u201d<\/p>\n
The New York
\nCity market is a great long-term play for Gencom, Colantonio said.<\/p>\n
\u201cNew York
\nCity has and always will be positioned as a world-class international market
\nwhich is driven by a healthy mix of corporate, group and leisure demand,\u201d he
\nsaid. \u201cOur strategy in New York City is one of a long-term, sustained view of
\nthe market and its ability to stay at the forefront of tourism and travel
\ntrends. While there will always be challenges to face \u2014 whether political,
\nmacroeconomic or other \u2014 over the past several years, we have focused on
\nopportunities in the market where we can acquire prime hospitality assets,
\nfocusing on quality of product, mix of demand and A-plus locations coupled with
\na good basis and sound business plan.\u201d<\/p>\n
This is
\nGencom\u2019s 11th Ritz-Carlton-branded project. The Ritz-Carlton New York, Central
\nPark joins Gencom’s growing hospitality portfolio, which includes brands such
\nas the Four Seasons Hotels and Resorts, St. Regis, Rosewood, Thompson Hotels,
\nInterContinental Hotels, Andaz, Fairmont, and Auberge Resorts.<\/p>\n
The
\nacquisition was financed by Mexico City-based Banco Inbursa.<\/p>\n
Gencom has Last May, a
\nhad an incredibly 12 months, including the company reacquiring the 115-key
\nRitz-Carlton Coconut Grove<\/a> in Miami from Hersha Hospitality Trust for an
\nundisclosed price in late December 2025.<\/p>\n
\npartnership led by Gencom closed on a $300 million debt facility to refinance
\nexisting debt and fund a large-scale renovation currently underway at The
\nRitz-Carlton Key Biscayne<\/a>, Miami.<\/p>\n