- Gencom acquired The Ritz-Carlton New York, Central Park.
- Miami-based Gencom is led by Founder and Principal Karim Alibhai.
- This is the company’s 11th Ritz-Carlton project.
GENCOM ACQUIRED THE 253-key The Ritz-Carlton New York at Central Park South in Midtown Manhattan, New York City, from Westbrook Partners. It is the firm’s third New York City acquisition in 16 months, following the Thompson Central Park in 2024 and the InterContinental New York Times Square in December.
The deal is Gencom’s 11th project with The Ritz-Carlton brand and was financed by Banco Inbursa, the firm said. Miami-based Gencom is led by Founder and Principal Karim Alibhai.
“Gencom continues to see long-term opportunities in New York City, particularly for luxury assets with global appeal,” said Alibhai. “The Ritz-Carlton Central Park is one of the city’s most prominent properties. This acquisition builds on our growing New York platform and strengthens our presence in a leading hospitality market.”
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.
“This acquisition strengthens Gencom’s New York portfolio,” said Alessandro Colantonio, the firm’s chief investment officer. “The Ritz-Carlton Central Park exemplifies the standards that guide our investment strategy and we are excited to enhance its position in the city’s hotel market.”
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’s Best Western in Houston. Born in Kenya, his family had lived there for generations after leaving India.
In March, Gencom 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.
