Author: Gencom

Photos, story by Cassie Hepler

What was once a frilly bank, you can now sit and dine in marble splendor at celebrity chef and restaurateur Richard Sandoval’s first restaurant in Philadelphia, Aqimero.

To make things even more fancy pants, the Ritz-Carlton hotel got a makeover where the restaurant is the hub in the middle by the skylight and chandeliers. And don’t worry, your broke ass can now afford to enjoy the ambiance with an ever-changing happy hour at the bar only, beginning with $1.50 Oysters, $7 cocktails, $6 wines and $5 draft beers Monday through Friday from 4 p.m. to 6:30 p.m. Or you can try the bottomless brunch option on weekends with or without drinks.

The restaurant is part of a multi-million dollar redesign at the hotel, which also includes new guest rooms, meeting spaces and a refreshed lobby. The 206-seat restaurant is located in the marble lobby, which is modeled after the Pantheon in Rome (with the same marble stone), and serves breakfast, lunch and dinner.

When we popped in for a quick tasting, new to the team chef Michael Boné from Florida was preparing our surprise menu with the telltale “made from scratch” approach and focused on sustainable seafood for us but also has steaks, ribs and poultry. Guests can select hand-blended marinades to complement their grilled fish or meat of choice, which boasts a unique flavor from the restaurant’s wood-fired grill and smoker. Spanish Octopus, Ahi Tuna, U12 Shrimp, King Pacific Salmon, Wild Striped Bass, Whole Maine Lobster, Filet Mignon, Rib Eye, Skirt Steak, Porterhouse, Jidori Half Chicken and BBQ Lamb Ribs will be staples, with seasonal and specialty items available.   A whole-roasted snapper will be served “Mexican beach campfire style” with a rich tomato and chili adobo, avocado, warm tortillas, chayote slaw & limes.  The Seafood and Raw Bar offers a combination of raw bar favorites including Mussels, Clams, Oysters, Shrimp Cocktail and Lobster Tail, alongside an impressive assortment of unique sushi and ceviche. Salads and savory sides round out the menu, with refreshing, seasonal craft cocktails, an international wine list and wide selection of Mezcal, which is currently hovering around 60 but aiming for 70, the largest selection in the city.

GENCOM AFFILIATE ACQUIRES COSTA RICA’S FAMED PENINSULA PAPAGAYO, INCLUDING FOUR SEASONS PAPAGAYO RESORT

Plans call for significant renovations and upgrades to award-winning luxury property, as well as expansion of real estate product offering

Project to create local jobs, boost international tourism, and support surrounding communities in Guanacaste province

Papagayo Four Seasons

August 17, 2016

MIAMI – Gencom, a leading U.S.-based international luxury hospitality and residential real estate investment and development firm, today announced the acquisition of Peninsula Papagayo Resort by a Gencom affiliate. The ownership acquired the 1,400-acre luxury master development in Costa Rica’s famed Guanacaste province for an undisclosed sum.

Anchored by the award-winning, 182-key Four Seasons Papagayo, Peninsula Papagayo includes such luxury amenities as an 18-hole Arnold Palmer-designed golf course and clubhouse, the 180-slip Marina Papagayo, and the 38,000 square foot Prieta Beach Club – all of which are recognized for offering best-in-class service via the more than 700 employees. The Four Seasons Papagayo is ranked as the only Forbes Travel Guide Five-Star Resort in Central and South America. The Guanacaste province, internationally noted as Costa Rica’s premier tourism destination, is located in the country’s northwestern region along the Pacific Ocean, bordering Nicaragua to the north.

The ownership is partnering with Costa Rican developer Sinergo Development Group to carry out the renovation and reinvigoration of the existing assets, including the Four Seasons Papagayo, and also to assist in the development of future phases. The design team also includes local architecture firm Zurcher Arquitectos and New York-based luxury interior design firm Meyer Davis. Plans for future development include branded and unbranded luxury residential real estate along with other complementary hotel brands.

“We are excited by the immediate and long-term benefits that this acquisition and further investments within the peninsula will bring to Costa Rica and the Guanacaste province, including job creation, increased tourism, and heightened global visibility for Peninsula Papagayo as a national jewel,” said Karim Alibhai, principal of Gencom. “This acquisition is part of our continued strategic response to an increased demand from elite international travelers for luxury, experience-driven vacations in prime destinations.”

As part of its commitment to the community, the group plans to invest in and continue the work of Creciendo Juntos (“Growing Together”), a local nonprofit organization that supports local high and elementary schools with programs including educational initiatives and preventative health care.

“As a native Costa Rican, I am excited by the reinvestment in Peninsula Papagayo, a vital pillar of Costa Rican tourism,” said Manuel Ardon, chief operating officer of Peninsula Papagayo. “Thanks to this acquisition, the phenomenal infrastructure of Peninsula Papagayo, which was developed in one of the world’s most spectacular geographic landscapes, will set a new standard among the other real estate and hospitality master developments in Central America, the Caribbean, and Mexico.”

The seller was represented by REH Capital Partners and the Algon Group in a strategic alliance as co-advisors.

About Gencom

Founded in 1987 by Karim Alibhai, Gencom is one of the nation’s leading domestic and international investment and development firms specializing in the hospitality and luxury hospitality related residential real estate sectors. Headquartered in Miami, Gencom is fully integrated and highly diversified, with expertise in virtually every aspect of development, acquisition, financing, asset management and sales of hospitality properties. Gencom has had success not only in developing, purchasing and exiting single assets and hotel portfolios, it also has been successful in creating, purchasing and growing hospitality platform investments, throughout the United States, Caribbean and Europe. For more information about Gencom, please visit https://gencomgrp.com

About REH Capital Partners

REH Capital Partners, LLC, is a national investment and advisory services firm primarily focused on the real estate and hospitality industries. The firm is led by Frank Nardozza, its founder, and a senior executive team dedicated to fulfilling the diverse needs of clients requiring seasoned real estate and hospitality know-how, personalized attention, and highly tailored business solutions. REH Capital Partners has headquarters in Fort Lauderdale, Fla., and offices in Los Angeles. More information is available at www.rehcp.com

About Algon Group

Algon Group is a specialized financial advisory firm that provides sophisticated advisory services in M&A, financing and restructuring transactions. For more information about Algon Group, please visit www.algongroup.com

About Sinergo Development Group
Sinergo Development Group is a development and asset management firm specialized in the hospitality and real estate sectors in Costa Rica and the Caribbean. With headquarters in San Jose, Costa Rica, the company is noted for its development of the Four Seasons Papagayo among other award-winning projects.

Editor’s Note: Photographs and interviews are available upon request.

Contact:

For Gencom inquiries:

Gencom
2700 Tigertail Avenue
Coconut Grove, FL, 33133
Alessandro E. Colantonio
SVP – Acquisitions & Development
305.416.6870
[email protected]

Donald McGregor
Associate
305.416.4573
[email protected]

Media Contacts:

Kris Conesa or Julia Wakefield
Roar Media
[email protected] or [email protected]
(305) 403-2080
www.RoarMedia.com

Benchmark Hospitality International and Gemstone Hotels & Resorts, a Gencom affiliate, both recognized global leaders in the management and marketing of resorts, hotels and conference centers, announce that Benchmark and Gemstone have joined together to create a portfolio of 58 unique and distinctive properties with 10,000 staff members across the globe.

“This merger was a natural fit,” explains Benchmark Hospitality International CEO Alex Cabañas. “Not only do we share a similar focus on unique and independent properties, but our organizational cultures and values align extremely well.” Mr. Cabañas continues with, “We felt it was critical to share this exciting news with our clients and employees before the press release went public.” Cabañas concludes with, “Though this has not been common in other industry mergers, for us it was the right thing to do to ensure the change and transition was thoroughly embraced by our ownership clients and team members.”

Greg Champion, Benchmark’s president & COO emphasizes that, “The merger of these two great organizations creates not only incredible synergies and opportunities for the growth and expansion of the combined companies, but also provides wonderful prospects and pathways for the development and advancement for our much-valued customers, employees and team members.”

“Passion, servant leadership and an entrepreneurial spirit will remain at the foundation of our new combined company,” says Jeff McIntyre, Gemstone’s principal partner. “Together, we will combine efforts to offer best-in-class services for our partners.”

In the newly-merged company, Burt Cabañas, Benchmark Hospitality’s founder and chairman, and Gencom, led by Karim Alibhai, will be the principal shareholders. Burt Cabañas will continue in his role of chairman of the combined companies, the remaining partners of both companies will serve in the following roles with the new entity; Alex Cabañas will serve as chief executive officer, and Jeff McIntyre and Greg Champion will serve as co-presidents and co-chief operating officers. Thomas Prins, a Gemstone partner, will take on the new role of managing director real estate investments.

Already being described as an epic merger of two legendary hotel companies into one extraordinary portfolio, the formal coming together represents a response to a market that is rapidly moving towards independent and soft brands, with a strategic focus on experience-driven, destination travel. The combined company will further this focus and apply its unique entrepreneurial management style to the expanded portfolio of independently-branded properties, while also deploying soft brands, such as Curio, Autograph Collection, Tribute, Preferred Hotels & Resorts, Leading Hotels of the World, Historic Hotels of the World and IACC. Further growth is on the agenda for the combined company with projects already in the pipeline. “The platform that is being created is robust and in part designed for well-measured growth,” explained Thomas Prins, “something we will take advantage of while at the same time creating great case studies at each of our existing properties.”

Most importantly, the merger represents an opportunity to combine the collective resources and experience of both companies to better serve ownership partners, customers and the independent property segment of the hospitality industry. The new company has already begun to integrate the best systems and resources from both organizations, using a well-engineered plan to create maximum efficiencies, while other aspects of consolidation will occur over time.
Benchmark and Gemstone are currently engaged in a comprehensive strategic envisioning and branding process to determine the new brand pillars, signature and brand positioning for the consolidated company, and plans to roll this out in the near future. Headquarters will be located in Houston, Texas with satellite offices in Park City, Utah and Miami, Florida.

“I am so pleased with this new partnership and the expansion of our company,” said Burt Cabañas. “This merger is in line with our overall strategic growth plans to double the size of our company within five years. With the merger of these two incredible organizations, we’re enthusiastically on our way toward achieving this significant goal, which will ultimately better serve the interests of our property owners and also create additional opportunities for our team members.”

“Gencom is very excited about being a part of this dynamic enterprise,” said Karim Alibhai. “This is a merger of two highly sought after companies with superior management capabilities. The management team combined has a wealth of hospitality experience, transcending over all classes of hotels, resorts and conference centers with strong performance through multiple business cycles.”

About Benchmark Hospitality International

Benchmark Hospitality International® is a recognized global leader in the management and marketing of resorts, hotels and conference centers. The company”s two distinctive portfolios of properties, Benchmark Resorts & Hotels® and Personal Luxury Resorts & Hotels®, represent the finest in guest-dedicated hospitality in unique destinations across the United States, in the Caribbean and Japan. As a founding member of the International Association of Conference Centers, Benchmark Conference Centers® maintain the highest standards for certification in meeting excellence. Benchmark Hospitality was launched in 1980 as an independent company and today operates worldwide from offices in The Woodlands (Houston), Texas, and regional offices in New Jersey, Washington State, Japan and Chile. For additional company information visit www.benchmarkresortsandhotels.com/development.