gencom
Gencom Acquires Thompson Central Park Hotel in New York City
Gencom | September 17, 2024
The purchase of the 587-key hotel represents Gencom’s entry into New York City, one of the top leisure and business destinations worldwide. MIAMI – September 17, 2024 – Gencom, a U.S.-based investment firm that owns, operates and develops prized real estate around the world, announces the hotel acquisition of the 42-story Thompson Central Park in New York City, a 587-key hotel centrally situated on Manhattan’s Billionaires’ Row. Located just south of New York’s Central Park, the luxury-lifestyle hotel underwent a comprehensive renovation, which led to the property’s reopening and rebranding in 2021. The hotel features 4,5...
Gencom Retakes Majority Ownership in Ritz-Carlton Key Biscayne Resort in Miami
Gencom | January 17, 2024
The Gencom-led partnership is planning a $100M transformation and repositioning of the cornerstone hotel asset in 2025 MIAMI, FL – Jan. 17, 2024 – Affiliates of Gencom, an international owner, developer and manager of hospitality and residential properties, announced today that it has retaken majority ownership in the 291-key Ritz-Carlton Key Biscayne. The transaction was financed by Citigroup and affiliates of KSL Capital Partners, LLC for an undisclosed amount. Situated at 455 Grand Bay Drive, the 275,000-square-foot Ritz-Carlton resort rises over 13 stories on Miami’s barrier island of Key Biscayne. The upscale resort f...
Gencom & GD Holdings Led Joint Venture Acquires Brand New St. Regis Chicago
Gencom | May 16, 2023
MIAMI, FL – May 16, 2023 – A joint venture between Gencom and GD Holdings, both privately held, internationally recognized owners, developers and managers of hospitality and residential projects, announced today the acquisition of the newly constructed, 192-key St. Regis Chicago, centrally located in the city’s Lakeshore East Loop community of Chicago where the Chicago River meets Lake Michigan. The 5-star hotel occupies the first 11 floors within the three interconnected towers comprising the luxurious hotel and branded-condominium mixed-use project. The tallest tower at 101 stories is the third highest in the city and is the tall...
Gencom & Corten Close Venture With Provenance Hotels to Acquire Eight-Hotel Portfolio
Gencom | December 20, 2022
MIAMI, FL, WILMINGTON, DE and PORTLAND, OR – December 20, 2022 – Affiliates of Gencom, an international owner and developer of hospitality and residential properties, and Corten, a Mid-Atlantic based private real estate investment fund manager, today announced the closing of a strategic venture with Provenance Hotels, an independent owner of boutique hotels. Under the venture, a Gencom-led partnership has acquired a 50 percent ownership stake in eight hotels across the United States, expanding the Miami-based firm’s portfolio by more than 1,400 rooms and suites. In a related transaction, Gencom affiliate Pyramid Global Hospitality,...
Pyramid Global Hospitality Closes Acquisition of Provenance Hotels’ Operating Division
Pyramid Global Hospitality | December 19, 2022
Acquisition Adds 12 Independent Hotels to Pyramid’s Portfolio of Managed Properties BOSTON, MA and PORTLAND, OR Dec. 19, 2022—Pyramid Global Hospitality today announced the company has closed the acquisition of the operating division of Provenance Hotels, an independent owner of boutique hotels. The transaction adds 12 full-service, independent hotels to Pyramid’s national network of managed properties. In a related transaction, Gencom, an international owner and developer of hospitality and residential properties, acquired a 50% ownership stake in eight Provenance hotels. “The addition of the Provenance portfolio places Pyramid...
Hyatt & Gencom Propose Redevelopment of the Downtown Miami Hyatt Site
Gencom | May 11, 2022
Miami – May 11, 2022 – Hyatt has teamed up with Miami-based luxury hospitality and residential developer Gencom, with the goal of redeveloping Downtown Miami’s iconic Hyatt Regency Miami, improving access in and out of the urban core, and activating a key piece of Miami’s riverfront. The Hyatt and Gencom venture is proposing a privately funded redevelopment that will comprise a reimagined upscale Hyatt Regency hotel with 615 hotel rooms and premium meeting space, more than 1,500 residential apartments, and open-air public space along the Miami River. The proposed development seeks to amend and restate the ground lease that ushered i...
Provenance Hotels and Gencom Affiliate Form GenPro
Provenance Hotels | April 25, 2022
PORTLAND, Ore. and MIAMI--Provenance Hotels (Provenance) and affiliates of Gencom, a leading domestic and international investment and development firm, today announced the formation of a special purpose hospitality venture, GenPro. As part of the venture, Provenance will contribute various hotels it owns throughout the United States, along with cash, and the Gencom affiliate will contribute cash. Jointly led by Provenance’s Founder and Chairman, Gordon Sondland, and Gencom Founder, Karim Alibhai, the venture will seek to expand through future acquisitions and/or redevelopment opportunities. GenPro’s hotel assets will be managed by B...
Benchmark Global Hospitality and Pyramid Hotel Group Announce Merger
Benchmark Pyramid | September 30, 2021
BOSTON and THE WOODLANDS, Texas – September 30, 2021 – Two storied hotel and resort management companies have aligned forces, creating one powerhouse organization strategically positioned for the future of the global hospitality industry: Benchmark Pyramid. With a worldwide portfolio of 210 properties and annual operating revenue under management of more than $3 billion, the new company captures the passions and unique strengths of Benchmark Global Hospitality, a celebrated leader in the development and management of independent and lifestyle properties, and Pyramid Hotel Group, with its history of success across branded/franchise and re...
