Gencom acquires dual Marriott hotels in New Orleans
Miami-based Gencom is led by Founder and Principal Karim Alibhai
Investment firm Gencom recently acquired the 758-key Ritz-Carlton, New Orleans and Courtyard New Orleans French Quarter/Iberville. Pictured is The Ritz-Carlton, New Orleans.
Vishnu Rageev R is a journalist with more than 15 years of experience in business journalism. Before joining Asian Media Group in 2022, he worked with BW Businessworld, IMAGES Group, exchange4media Group, DC Books, and Dhanam Publications in India. His coverage includes industry analysis, market trends and corporate developments, focusing on retail, real estate and hospitality. As a senior journalist with Asian Hospitality, he covers the U.S. hospitality industry. He is from Kerala, a state in South India.
Gencom Enhances New Orleans’ Luxury Scene with Dual Hotel Buy
GENCOM, A U.S.-BASED real estate investment and development firm, recently acquired The Ritz-Carlton New Orleans and the Courtyard New Orleans French Quarter/Iberville, a 758-key, two-hotel portfolio in New Orleans’ French Quarter in Louisiana. The Miami-based firm is led by founder and principal Karim Alibhai.
Chicago-based Monroe Capital provided financing for the acquisition, while New York-based Eastdil Secured represented both parties in the transaction, Gencom said in a statement.
“We continue to build on our legacy of investing in and enhancing hospitality assets with this acquisition, expanding our presence in this key destination,” Alibhai said. “New Orleans is a strong market for luxury hospitality, and we look forward to bringing our expertise to further elevate these properties. We are excited to work with Marriott to ensure The Ritz-Carlton, New Orleans, and Courtyard French Quarter continue delivering exceptional guest experiences.”
The Ritz-Carlton on Canal Street has 528 rooms and suites, more than 48,000 square feet of event space, a fitness center, an indoor pool and a 25,000-square-foot spa, the largest in the city, the statement said. The adjacent 230-key Courtyard hotel is near Bourbon Street, Caesars Superdome and the Ernest N. Morial Convention Center.
“This acquisition is especially meaningful as it marks Gencom’s 10th Ritz-Carlton-branded project, following the recent opening of Nekajui, a Ritz-Carlton Reserve in Costa Rica," Alibhai said. "We are proud to have built and maintained a long-standing relationship with the Ritz-Carlton brand through both development and acquisitions.”
Both hotels recently underwent multi-year renovations, the statement said.
The Ritz-Carlton upgraded guestrooms and public areas, including a $15 million refurbishment of its Maison Orleans Club Level, while the Courtyard modernized all guest rooms and public spaces.
“As Gencom continues acquiring and developing luxury hotel assets in key U.S. destinations, this acquisition strategically expands our presence in the dynamic New Orleans market,” said Alessandro Colantonio, Gencom’s chief investment officer. “With its rich cultural heritage and strong tourism sector, New Orleans offers a unique long-term investment opportunity. The renovations and prime locations of both properties further strengthen their positioning as top-tier hospitality assets.”
Founded more than 40 years ago, Gencom manages nearly $8 billion in assets, with 23 owned properties totaling more than 7,000 rooms worldwide. Through its affiliate Pyramid Global Hospitality, it oversees 240 properties in more than 40 locations, totaling 50,000 keys.
Alibhai founded Gencom in 1987 after working at his family’s Best Western in Houston, where he finished college. Born in Kenya, his family had lived there for generations after leaving India.
Helped by Mardi Gras, New Orleans reported the second-highest gains in ADR, up 20.5 percent to $224.46, and RevPAR, up 17.2 percent to $162.86, during the week ending March 8, according to CoStar. However, occupancy declined 2.7 percent to 72.6 percent.
Witness Investment acquired the 117-key Hilton Garden Inn in Springfield, Illinois, from Schulte Hospitality Group.
The hotel is near the University of Illinois Springfield, Capital City Shopping Center and the $67 million Scheels Sports Park, expected to draw 200,000 visitors and generate $30 million annually.
Witness, based in Indianapolis, is led by principals Gurtej Medi and Sagar Patel.
WITNESS INVESTMENT RECENTLY acquired the 117-key Hilton Garden Inn Springfield in Springfield, Illinois, from Schulte Hospitality Group. The transaction is part of the company’s strategy for expansion in the region.
The hotel is near the University of Illinois Springfield, Capital City Shopping Center and the $67 million Scheels Sports Park, which is expected to draw 200,000 visitors annually and generate $30 million in economic impact, according to Hunter Hotel Advisors that facilitated the transaction.
It serves travelers visiting Springfield landmarks such as the Abraham Lincoln Presidential Library and Museum, Lincoln’s home and the Illinois State Capitol, the city’s largest employer.
Manufacturers including BUNN-O-Matic, Standard Aero and Richardson Manufacturing support the regional economy and contribute to Illinois’ position as the nation’s fourth-largest manufacturing state.
Amenities include a fitness center and indoor pool, Hunter said in a statement.
Indianapolis-based Witness is led by principals Gurtej Medi and Sagar Patel. Spencer Davidson, senior vice president, represented Hunter.
“We are excited to add the Hilton Garden Inn Springfield to our portfolio,” said Medi. “The hotel’s location near key demand drivers—government, healthcare and the new Scheels Sports Park—aligns with our strategy of targeting high-potential assets in resilient Midwest markets. We look forward to building on its performance and continuing to deliver value to guests, partners and the community.”
Schulte, based in Louisville, Kentucky, is led by Chairman and CEO Darryl Schulte and Founding Principal Ray Schulte.
Private equity firm Excel Group recently acquired the Residence Inn and Hampton Inn & Suites in Coconut Creek, Florida.
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Baywood Hotels, based in Columbia, Maryland and led by President Al Patel, acquired the 124-room Hyatt Place Miami Airport-West/Doral in Miami.
The hotel is near Miami International Airport, South Beach, UPS, FedEx, Boeing, and the upcoming Oasis of Doral.
Hunter Hotel Advisors, led by Robert Taylor and Sophia Pittaluga, brokered the sale.
BAYWOOD HOTELS RECENTLY acquired the 124-room Hyatt Place Miami Airport-West/Doral in Miami. Hunter Hotel Advisors, led by Executive Vice President Robert Taylor and Senior Vice President Sophia Pittaluga, brokered the sale, Hunter said in a statement.
“We are excited to execute this deal on behalf of our client,” said Pittaluga. “The asset benefits from airport, leisure and corporate demand, with Baywood positioned in a submarket seeing continued business and residential growth.”
The hotel is near Miami International Airport, Miami International Mall, Trump National Doral’s Blue Monster Golf Course, South Beach, Wynwood, Dolphin Mall, and Marlins Park. Corporate offices including UPS, FedEx, and Boeing contribute to demand, along with the upcoming Oasis of Doral development. The hotel includes 1,127 square feet of meeting space in two rooms, a fitness center, business center and outdoor pool.
Columbia, Maryland-based Baywood, founded in 1975 by Nick Patel with a single motel in Laurel, is now led by President Al Patel.
Nexgen Management, led by CEO Paul Uppal, acquired the four-story, 139-room Hampton Inn & Suites El Paso-Airport in El Paso, Texas.
Nanak Hotels, owned by British Indians, acquired the 60-room Kings Court Hotel, a 17th-century property in Warwickshire, England, for $3.74 million.
The firm plans to invest in the property's refurbishment and repositioning.
Colliers International UK brokered the deal, led by Josh Sullivan and Peter Brunt.
UK-BASED NANAK HOTELS recently acquired the 60-room Kings Court Hotel, a 17th-century property in Warwickshire, England, for £2.75 million or around $3.74 million. This is the first regional acquisition by the privately held firm led by British Indians Harpreet Singh Saluja and Karamvir Singh.
Nanak Hotels, which operates a UK property portfolio, plans to invest in the property's refurbishment and repositioning, according to a statement from Colliers International UK, which brokered the transaction.
“We’re excited to bring Kings Court Hotel into our portfolio as our first Warwickshire acquisition,” said Saluja. “It has a solid foundation and loyal customer base. We see potential to develop the hotel while preserving its heritage.”
The West Midlands hotel, on a 4.2-acre site between Alcester and Redditch, began as a 17th-century farmhouse and now operates as a hospitality business with public areas, event and conference facilities and wedding capacity for up to 130 guests.
The hotel’s previous owner said Kings Court had been central to their work for over 30 years.
“It’s been a privilege to grow it into what it is today,” the owner said. “As we retire, we’re pleased to see it pass to a new owner who shares our commitment to hospitality and has a vision for its future.”
“The sale of Kings Court Hotel drew strong interest due to its size, location and trading performance,” said Josh Sullivan and Peter Brunt of Colliers International UK. “We’re pleased to have completed the transaction with Nanak Hotels and look forward to seeing how they develop the asset.”
In February, UK-based Shiva Hotels, led by founder and CEO Rishi Sachdev, secured $372 million to renovate The BoTree in Marylebone, London. Separately, Indian tech firm Oyo announced a $62 million, three-year plan to expand its UK hotel portfolio by acquiring inventory and securing leasehold and management contracts, supporting 1,000 jobs.
3H Group and Aztec Group opened the first LivSmart Studios by Hilton in Tullahoma, Tennessee, for stays of 10 days or more.
A second 137-room hotel is set to open later this summer in Kokomo, Indiana, owned by Sun Management & Development Corp.
More than 90 hotels are planned, with more than 225 deals in negotiation.
The LivSmart Studios by Hilton Tullahoma is now open in Tullahoma, Tennessee. The 89-room property, developed by 3H Group and Aztec Group, is the first location for the brand and targets guests staying 10 nights or more, a segment Hilton says is largely unmet.
3H Group, based in Chattanooga, Tennessee, is led by President and CEO Hiren Desai and Aztec Group, based in Miami, is led by Founder and CEO Ezra Katz.
“Opening the first LivSmart Studios by Hilton is an important moment for our team,” said Desai. “We’re partnering with Hilton to launch this new brand and introduce it to the Tullahoma community. This hotel sets the foundation for what will become a national option for long-stay travelers and we’re contributing to the brand’s growth.”
Hilton plans to open a second 137-room hotel later this summer in Kokomo, Indiana, which will be owned by Sun Management & Development Corp., Hilton said in a statement. Chris Silcock, Hilton’s president of global brands and commercial services, said the company has a track record of building brands that meet changing guest needs and deliver value for owners.
“LivSmart Studios represents the latest chapter in our growth strategy as we expand our extended-stay presence with a product designed for longer stays,” he said. “The debut of this brand reinforces our commitment to offering a Hilton experience for every traveler and every stay.”
More than 90 hotels are expected to open in the coming years, with over 225 deals in negotiation, the statement said.
“LivSmart Studios was created to meet growing demand for accommodations designed for longer stays,” said Isaac Lake, Hilton's brand leader for LivSmart Studios by Hilton. “The opening of our first property in Tullahoma brings that plan to life. As the brand grows, we plan to expand into more communities and offer a new option for long-stay hospitality.”
In April, 3H Group opened the first Hyatt Studios Mobile/Tillmans Corner in Mobile, Alabama.
Nexgen Management acquired the four-story, 139-room Hampton Inn & Suites El Paso-Airport in El Paso, Texas.
Hunter Hotel Advisors brokered the transaction, led by Senior Vice President Kami Burnette and Vice President Mason McDavid.
The property is near El Paso International Airport, Marathon Petroleum, Veolia, Kinder Morgan, the Hospitals of Providence, University Medical Center of El Paso and the University of Texas at El Paso.
NEXGEN MANAGEMENT RECENTLY acquired the four-story, 139-room Hampton Inn & Suites El Paso-Airport in El Paso, Texas. The Texas-based company, led by CEO Paul Uppal, focuses on limited and full-service hotel segments in the U.S.
The transaction was brokered by Hunter Hotel Advisors, led by Senior Vice President Kami Burnette and Vice President Mason McDavid, Hunter said in a statement.
“This is our second transaction in El Paso in 2025,” said Burnette. “We facilitated this sale to support the buyer’s continued growth across their hospitality portfolio along the border.”
The property is near El Paso International Airport, which serves more than 3.9 million passengers and handles more than 96,000 aircraft operations annually, the statement said. The area includes operations by Marathon Petroleum, Veolia and Kinder Morgan, as well as institutions such as The Hospitals of Providence, University Medical Center of El Paso and the University of Texas at El Paso.
Nearby sites include Sun Bowl Stadium, El Paso Museum of Art, and El Paso Zoo and Botanical Gardens. The hotel includes a fitness center, business center and outdoor pool.
In April, Whitestone Capital, a subsidiary of Whitestone Cos. led by CEO Jay Batra, acquired the 189-key Westin Great Southern Hotel in Columbus, Ohio, in an all-cash deal.