the firm said<\/a>. Miami-based Gencom is led by Founder and Principal Karim Alibhai.<\/p>\n\u201cGencom continues to see long-term opportunities in New York City, particularly for luxury assets with global appeal,\u201d said Alibhai. \u201cThe Ritz-Carlton Central Park is one of the city\u2019s most prominent properties. This acquisition builds on our growing New York platform and strengthens our presence in a leading hospitality market.\u201d<\/p>\n
The Ritz-Carlton New York, Central Park joins Gencom’s hospitality portfolio, which includes Four Seasons, St. Regis, Rosewood, Thompson, InterContinental Andaz, Fairmont and Auberge Resorts.<\/p>\n
\u201cThis acquisition strengthens Gencom\u2019s New York portfolio,\u201d said Alessandro Colantonio, the firm\u2019s chief investment officer. \u201cThe Ritz-Carlton Central Park exemplifies the standards that guide our investment strategy and we are excited to enhance its position in the city\u2019s hotel market.\u201d<\/p>\n
Founded in 1987, Gencom manages nearly $8 billion in assets, including 23 properties with more than 7,000 rooms. Through affiliate Pyramid Global Hospitality, it oversees 240 properties in over 40 locations, totaling 50,000 keys. Alibhai started Gencom after working at his family\u2019s Best Western in Houston. Born in Kenya, his family had lived there for generations after leaving India.<\/p>\n
In March, Gencom<\/a> acquired The Ritz-Carlton New Orleans and the Courtyard New Orleans French Quarter\/Iberville, a 758-key, two-hotel portfolio in New Orleans\u2019 French Quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"Gencom acquired The Ritz-Carlton New York, Central Park.Miami-based Gencom is led by Founder and Principal Karim Alibhai.This is…\n","protected":false},"author":2,"featured_media":126097,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[54675,35768,35274,54676,9,24,55,54,56,54677],"class_list":["post-126096","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-banco-inbursa","tag-gencom","tag-karim-alibhai","tag-korea-investment-corp","tag-new-york","tag-new-york-city","tag-new-york-city-headlines","tag-new-york-city-news","tag-ny","tag-westbrook-partners"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/126096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=126096"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/126096\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/126097"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=126096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=126096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=126096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}