- Gencom adds its second InterContinental hotel.
- Bloomberg reports the deal at $300 million.
- White Bridge partners with international family offices.
MIAMI-BASED GENCOM AND White Bridge Capital acquired the 652-room InterContinental Miami, expanding their hotel investments in South Florida. The 34-story hotel at 100 Chopin Plaza overlooks Biscayne Bay and the Miami River.
Gencom announced the deal on Oct. 30.
The companies did not disclose the price, but Bloomberg reported that the hotel sold for about $300 million, citing a person familiar with the transaction. The hotel is Gencom’s second InterContinental-branded property.
“InterContinental Miami is a significant addition to Gencom’s portfolio and represents an important opportunity to deepen our presence in one of the most dynamic and globally recognized markets in the country,” said Alessandro Colantonio, Gencom’s chief investment officer.
White Bridge Capital and its international family office partners contributed a large share of the equity. White Bridge is a private investment and advisory firm launched in 2023 by former Citi bankers Tommy Campbell and Regina Garcia Handal. It works with family offices on real estate deals.
Campbell, White Bridge Capital’s founder and CEO, said the partnership reflects its interest in working with sponsors that share its vision for developing assets.
Gencom said the deal strengthens its presence in downtown Miami and reflects its confidence in the city’s growth as a center for business, tourism and investment. Corporate relocations, residential and mixed-use development, and growth in finance and technology support the market. Events such as Art Basel Miami Beach, the Formula 1 Miami Grand Prix, Miami Music Week and the Miami Open also draw visitors.
Hotel renovation and operations
InterContinental Miami showcases its recently completed renovations and refreshed spaces.Photo credit: IHG Hotels & Resorts
The hotel recently completed a renovation of guest rooms, furnishings, finishes and technology. The work also covered the Club InterContinental Lounge, pool cabanas and SkyLawn outdoor event space. Standard rooms average about 405 square feet. The hotel has 22 suites, ranging from about 850 square feet to 2,800 square feet for the Presidential and Royal Suites.
“The InterContinental Miami’s significant recent capital investment, strong operating performance and diversified mix of leisure, corporate and group business provide a solid foundation for long-term value creation to Gencom and its investors,” said Ignasi Puig, Gencom managing director of acquisitions.
The property has 35 meeting rooms and more than 90,000 square feet of indoor and outdoor event space. Other facilities include a rooftop pool, cabanas, a spa, a fitness center, a business center and retail outlets. Dining options are Toro Toro, chef Richard Sandoval’s Pan-Latin steakhouse; Bluewater, a rooftop restaurant and bar; Ole; Starbucks; and Freddy’s Speakeasy, a reservation-only cocktail bar.
Garcia Handal, White Bridge Capital’s chief investment officer, said the deal fits its strategy of investing in properties with long-term fundamentals in major gateway markets.
Miami portfolio and company growth
Karim Alibhai, founder and principal of Gencom, pictured alongside The Ritz-Carlton Key Biscayne, top right, and The Ritz-Carlton Coconut Grove, bottom right.Photo credit: Gencom
The deal adds to Gencom’s South Florida holdings, which include The Ritz-Carlton Key Biscayne and The Ritz-Carlton Coconut Grove. Gencom co-developed the Key Biscayne resort in the late 1990s and recently finished a renovation costing more than $100 million. It reacquired a majority interest in the 115-room Coconut Grove property in December 2025.
Gencom is also advancing Miami Riverbridge, a $1.5 billion privately funded joint venture with Hyatt. The project will redevelop the Hyatt Regency Miami and James L. Knight Center site along the Miami River. Plans include two hotels, 700 apartments, 200,000 square feet of meeting and event space, and 50,000 square feet of public green space.
Earlier in 2026, Gencom bought the 253-room Ritz-Carlton New York, Central Park. In late 2025, it acquired the InterContinental New York Times Square through a joint venture for $230 million.
Karim Alibhai founded Gencom in 1987 and leads the firm. He was born in Kisumu, Kenya, to a family of Indian origin, and moved to the U.S. before earning a bachelor’s degree in economics from Rice University. In August, the firm restructured its operations, creating Gencom Capital and Gencom Real Estate as separate divisions and naming new leaders.
Gencom has $7 billion in assets under management and development, including 17 owned properties and more than 5,000 hotel rooms. Its affiliate Pyramid Global Hospitality manages 185 properties with about 50,000 rooms across the U.S. and Europe. Another affiliate, Convene, operates more than 2 million square feet of meeting, event and flexible office space.
The InterContinental Miami is part of IHG Hotels & Resorts’ Luxury & Lifestyle portfolio. The InterContinental brand has nearly 350 open or pipeline properties worldwide.
