Acquisition of 253-key luxury hotel marks Gencom’s continued investment and growth of property portfolio in New York City

MIAMI – February 6, 2026 – Gencom, a U.S.-based investment firm that owns, operates, and develops prized real estate around the world, announces the acquisition of The Ritz-Carlton New York, Central Park, a 253-key hotel at 50 Central Park South in Midtown Manhattan. This transaction marks the firm’s third luxury hotel acquisition in New York City in the last 16 months.

Following Gencom’s acquisition of the Thompson Central Park in 2024 and its acquisition of the InterContinental New York Times Square in December 2025, this transaction expands the firm’s New York City presence and deepens its investment in one of the world’s most dynamic leisure and business travel destinations. The acquisition strengthens Gencom’s assemblage of best-in-class luxury hotels and the firm’s long-standing relationship with The Ritz-Carlton brand, its 11th Ritz-Carlton-branded project. The acquisition transaction was financed by Banco Inbursa, a leading international financial institution with a strong track record financing hospitality and commercial real estate assets.

“Gencom continues to see compelling long-term opportunities in New York City, particularly for luxury assets with enduring global appeal. The Ritz-Carlton Central Park is one of the most iconic properties in the city, distinguished by its park frontage and position at the center of Manhattan’s luxury ecosystem,” said Karim Alibhai, Founder and Principal of Gencom. “This acquisition builds upon our growing New York platform and further strengthens our presence in one of the world’s leading hospitality markets.”

Situated at the corner of Central Park South and Sixth Avenue, with immediate access to Manhattan’s premier parkland and just one block from Fifth Avenue’s renowned luxury shopping corridor, the hotel occupies a premier position within the prestigious Plaza District. Steps from the city’s most renowned cultural attractions, the hotel property features Contour, the all-day gastro lounge serving locally inspired small plates and refined cocktails; the Ritz-Carlton Club Lounge, offering curated culinary presentations with a relaxing atmosphere with sweeping park views; the Forbes Four-Star La Prairie Spa, featuring private treatment rooms and tailored wellness experiences; a newly renovated, and a state-of-the-art fitness center equipped with Technogym equipment, Peloton bikes, and a Movement Studio with on-demand digital classes.

“This acquisition further strengthens Gencom’s New York City portfolio with a truly iconic asset,” said Alessandro Colantonio, Chief Investment Officer at Gencom. “The Ritz-Carlton New York, Central Park exemplifies the standards of excellence that guide our investment strategy, and we are excited to elevate its position as one of the city’s premier luxury hotels.”

Guestrooms and suites at The Ritz-Carlton New York, Central Park resonate with the essence of the locale, combining contemporary sophistication with timeless opulence reminiscent of distinguished Manhattan townhouses. Guestrooms feature separate seating areas and marble bathrooms with soaking tubs and walk-in showers, while the 47 suites average over 1,000 square feet and include distinct living spaces, with some offering full kitchens and dining areas ideal for extended stays or entertaining. Each accommodation provides panoramic views of Central Park and the Midtown skyline, delivering a quintessential New York experience with the personalized service for which the Ritz-Carlton brand is renowned.

The Ritz-Carlton New York, Central Park joins Gencom’s growing hospitality portfolio, which includes distinguished brands such as the Four Seasons Hotels and Resorts, St. Regis, Rosewood, Thompson Hotels, InterContinental Hotels, Andaz, Fairmont, and Auberge Resorts.

About Gencom

Gencom is a U.S.-based investment firm that owns, operates and develops prized real estate around the world, with an emphasis on luxury hotels, resorts and branded residential properties; and which is also an active owner and investor in hospitality operating platforms. Gencom’s current real estate portfolio is comprised of some of the world’s most iconic hotels, resorts, and destinations which are amongst the leading properties in the industry with key operating partners such as Four Seasons, Ritz-Carlton, Rosewood, Auberge, Fairmont, Hyatt, and Marriott. 

Founded more than 40 years ago, Gencom has grown to become one of the nation’s leading firms specializing in the development and management of luxury resort and residential properties, alongside full-service hospitality operating platforms. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and includes 24 owned assets in operation or under development with over 6,000 hotel rooms around the world; in addition to 185 properties, comprised of 50,000 keys through its third-party management affiliate, Pyramid Global Hospitality, which oversees hotel property management and operations throughout the U.S. and Europe; and over 2 million square feet through affiliate Convene, a hospitality company that designs, builds, and manages premium meeting, event, and flexible office spaces. For more information, visit www.gencomgrp.com.

About The Ritz-Carlton New York, Central Park

Boldly transformed and redesigned, The Ritz-Carlton New York, Central Park reimagines luxury in Midtown Manhattan, drawing inspiration from the sights, sounds, and colors of Central Park and the chic residential style of a city penthouse. Steps from the city’s renowned cultural attractions, the 253-room hotel is a Forbes Five-Star and AAA Five Diamond Hotel, and named World’s Best Rooms by Forbes Travel Guide Verified List in 2019. Featuring the all-day gastro lounge Contour, The Ritz-Carlton Club® Lounge, and a collection of wellness experiences including the first stateside La Prairie Spa and innovative Movement Studio, the iconic hotel creates inspiring guest memories with its legendary Ritz-Carlton service. For more information or reservations, visit www.ritzcarlton.com/centralpark and follow along on Instagram and Facebook.

Media Contact for Gencom:

Schwartz Media Strategies

Yudi Fernandez Kim – yudi@schwartz-media.com; (305) 725-8262

Sara Gaggia – sara@schwartz-media.com; (954) 592-4589

Annemarie Suarez – annemarie@schwartz-media.com; (786) 416-1783

MIAMI, FL – December 26, 2025 – Affiliates of Miami-based Gencom, a U.S.-based investment firm that owns, operates, and develops prized real estate globally, announced that it has reacquired a majority interest the 115-key The Ritz-Carlton Coconut Grove situated at 3300 SW 27th Ave. in Miami, Florida.  

A Gencom-led joint venture originally acquired The Ritz-Carlton Coconut Grove back in 2011 and sold a majority stake on the property to Hersha Hospitality Trust in 2017. The new acquisition transaction was financed by Banco Inbursa, a leading international financial institution with a strong track record financing hospitality and commercial real estate assets, for an undisclosed amount.

“The Ritz-Carlton Coconut Grove has always been a special property for Gencom, reflected by our history with the asset and Coconut Grove’s timeless appeal,” said Karim Alibhai, Founder of Gencom. “Reacquiring a majority stake aligns with our strategy of investing in high-quality assets in markets with strong fundamentals. We see significant opportunity to build on the property’s legacy and exceptional brand by creating value through disciplined investment and asset management.”

The Ritz-Carlton Coconut Grove property first opened in 2002 in Miami’s historic Coconut Grove neighborhood. In addition to the hotel’s 115 guestrooms, the Ritz-Carlton property features ~30,000 square feet of flexible indoor and outdoor meeting space, a swimming pool, poolside restaurant, boutique spa and salon, and a fitness center. The 21-story upscale hotel underwent its latest renovation in 2018. The upgrades included renovating the guestrooms and suites, the lobby, swimming pool, and food and beverage spaces that led to the opening of Isabelle’s Coconut Grove and The Commodore cocktail bar. 

“This acquisition reflects our long-term conviction in Miami’s lodging fundamentals and the sustained strength of its local economy,” said Alessandro Colantonio, Chief Investment Officer at Gencom. “Having previously owned The Ritz-Carlton Coconut Grove, we recognize the enduring value of the asset and the importance of Coconut Grove as one of Miami’s most established and in-demand submarkets for both leisure and business travel. Regaining a majority ownership in this iconic property enables us to further scale our hospitality platform in Miami, one of North America’s most compelling and resilient tourism markets.”

Miami’s Coconut Grove waterfront neighborhood has emerged as one of the city’s most authentic and highly coveted communities. Known for its lush streets, historic charm, and vibrant cultural scene, the Grove has seen significant growth and redevelopment in recent years. The addition of several Class A office buildings has attracted new residents and businesses, while the revitalization of its anchor lifestyle center, Cocowalk, has introduced dozens of restaurants, retail shops, and a new movie theater. Coupled with the development of luxury condos and hotels, these enhancements have strengthened Coconut Grove’s position as a premier live-work-play district. Today, the neighborhood offers a unique blend of luxury living, shopping, dining, cultural attractions and entertainment, making it one of Miami’s most appealing destinations for residents, visitors, and investors alike.

Gencom’s Miami holdings include the recently reopened Ritz-Carlton Key Biscayne, Miami following a $100 million renovation and Miami Riverbridge, a transformational, privately funded mixed-use development planned along the Miami River, reinforcing the firm’s long-term conviction in the city’s growth and waterfront revitalization. The company’s illustrious branded hotel portfolio also includes other Marriott Hotels brands such as The Ritz-Carlton Bachelor Gulch; The Ritz-Carlton Philadelphia; The Ritz-Carlton New Orleans; The St. Regis Chicago; and Nekajui, a Ritz-Carlton Reserve; in addition to other five-star flags such as Auberge, Four Seasons, Rosewood, Fairmont, Hyatt, InterContinental, and more. 

About Gencom

Gencom is a U.S.-based investment firm that owns, operates and develops prized real estate around the world, with an emphasis on luxury hotels, resorts and branded residential properties; and which is also an active owner and investor in hospitality operating platforms. Gencom’s current real estate portfolio is comprised of some of the world’s most iconic hotels, resorts, and destinations which are amongst the leading properties in the industry with key operating partners such as Four Seasons, Ritz-Carlton, Rosewood, Auberge, Fairmont, Hyatt, and Marriott.  

Founded more than 40 years ago, Gencom has grown to become one of the nation’s leading firms specializing in the development and management of luxury resort and residential properties, alongside full-service hospitality operating platforms. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and includes 24 owned assets in operation or under development with over 6,000 hotel rooms around the world; in addition to 185 properties, comprised of 50,000 keys through its third-party management affiliate, Pyramid Global Hospitality, which oversees hotel property management and operations throughout the U.S. and Europe; and over 2 million square feet through affiliate Convene, a hospitality company that designs, builds, and manages premium meeting, event, and flexible office spaces. For more information, visit www.gencomgrp.com.

About The Ritz-Carlton Hotel Company, LLC

The Ritz-Carlton Hotel Company, L.L.C. currently operates more than 100 hotels in 34 countries and territories. For more information or reservations, visit the company web site at www.ritzcarlton.com, for the latest company updates, visit news.marriott.com and to join the live conversation, use #RCMemories and follow along on Facebook, Twitter, and Instagram. The RitzCarlton Hotel Company, L.L.C. is a wholly-owned subsidiary of Marriott International, Inc. (NASDAQ:MAR). The Ritz-Carlton is proud to participate in Marriott Bonvoy®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments and unparalleled benefits including complimentary nights and Elite status recognition. To enroll for free or for more information about the program, visit marriottbonvoy.com.

Media Contact:

Schwartz Media Strategies

Yudi Fernandez Kim – yudi@schwartz-media.com; (305) 725-8262

Sara Gaggia – sara@schwartz-media.com; (954) 592-4589

Annemarie Suarez – annemarie@schwartz-media.com; (786) 416-1783

Acquisition of 607-key hotel in New York City, one of the world’s premier hospitality markets.

MIAMI – December 11, 2025 – A partnership between Gencom, a U.S.-based investment firm that owns, operates, and develops prized real estate around the world, Argent Ventures, a vertically-integrated, real estate investment and development firm, and Highgate, an industry-leading hotel management, investment, and development company, announce the acquisition of The InterContinental New York Times Square, a 607-key luxury hotel situated in the heart of Midtown Manhattan.

Standing 34 stories tall, the InterContinental New York Times Square is one of Manhattan’s most prominent hotels, offering contemporary design, sweeping skyline views, and immediate access to the city’s most celebrated attractions, including Broadway, Rockefeller Center, and Hudson Yards.

The property will transition from IHG management to an IHG franchise, with Highgate assuming management. The hotel, which currently features approximately 20,000 square feet of flexible meeting space, a signature restaurant, a Shake Shack, and a 24-hour fitness center, will also undergo a transformative renovation of guestrooms, public spaces, and dining venues to elevate the guest experience and meet the highest standards of luxury hospitality.

Following Gencom’s 2024 acquisition of the Thompson Central Park in New York, this transaction further expands the firm’s New York City presence. It marks its first acquisition of an InterContinental Hotels & Resorts-branded property, strengthening Gencom’s relationship with leading global hospitality brands.

“As Gencom’s second hotel acquisition in New York City in the past 18 months, this transaction underscores our confidence in the long-term strength and global appeal of this destination,” said Karim Alibhai, Founder and Principal of Gencom. “We look forward to leveraging Gencom’s expertise to elevate the property’s experience further, blending luxury with the energy and sophistication of Manhattan.”

Argent Ventures’ recent acquisition and conversion of the Crowne Plaza Times Square into the Hyatt Regency Times Square, which is also operated by Highgate, underscores the firm’s continued investment in the city’s hospitality landscape and its experience in repositioning branded assets.

Highgate, which manages a global portfolio spanning luxury, lifestyle, full-service, and select-service hotels, will assume operational leadership of the property. Highgate’s proven track record of investing and operating in New York City, its leading team of New York-based operators, and strong industry relationships position Highgate to enhance performance and unlock the full potential of this landmark asset. This acquisition follows Highgate’s recent investment in the 1,331-room Row NYC, and marks a continuation of Highgate’s longstanding track record as a leading investor in New York City hospitality real estate.

“Highgate is thrilled to complete another significant investment in New York, and to partner with Gencom and Argent Ventures,” said Zach Berger, Principal. “Highgate has invested in New York across multiple cycles and multiple asset classes and remains committed to fielding a best-in-class operating team in the market, creating exceptional experiences for our guests, and delivering leading results for our partners. We are also excited to continue expanding our activities with IHG, and to lead this new chapter for the InterContinental New York Times Square.”

The acquisition financing for the transaction was provided by Monroe Capital, a leading asset management firm specializing in private credit and real estate. Eastdil Secured represented the seller on the sale as well as the buyer in securing financing. The seller was a joint venture between Tishman and MetLife Investment Management.

“Monroe is excited to partner on another deal with Gencom, one of the premier high-end hospitality sponsors globally. In addition, Monroe is pleased to complete a transaction with two additional blue-chip sponsors, Argent and Highgate,” said Kyle Asher, Managing Director & Co-Head Alternative Credit Solutions of Monroe Capital.

The InterContinental New York Times Square joins Gencom’s growing hospitality portfolio, which includes distinguished brands such as The Ritz-Carlton, Four Seasons Hotels and Resorts, St. Regis, Rosewood, Thompson Hotels, Andaz, Fairmont, and Auberge Resorts.

About Gencom

Gencom is a U.S.-based investment firm that owns, operates and develops prized real estate around the world, with an emphasis on luxury hotels, resorts and branded residential properties; and which is also an active owner and investor in hospitality operating platforms. Gencom’s current real estate portfolio is comprised of some of the world’s most iconic hotels, resorts, and destinations which are amongst the leading properties in the industry with key operating partners such as Four Seasons, Ritz-Carlton, Rosewood, Auberge, Fairmont, Hyatt, Marriott and St. Regis. 

Founded more than 40 years ago, Gencom has grown to become one of the nation’s leading firms specializing in the development and management of luxury resort and residential properties, alongside full-service hospitality operating platforms. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and includes 23 owned assets in operation or under development with over 6,000 hotel rooms around the world; in addition to 240 properties, comprised of 50,000 keys through its third-party management affiliate, Pyramid Global Hospitality, which oversees hotel property management and operations throughout the U.S. and Europe; and over 2 million square feet through affiliate Convene, a hospitality company that designs, builds, and manages premium meeting, event, and flexible office spaces.

For more information, visit www.gencomgrp.com.

About Argent Ventures

Argent Ventures is a vertically-integrated, diversified real estate investment and development firm specializing in opportunistic, and value-add transactions throughout the United States. 

Founded in 1997 and headquartered in New York City, Argent Ventures pursues debt- and equity-related investments in any asset class. Since its inception, Argent has purchased over $3.0 billion in real estate assets and debt instruments in major markets in the United States and Europe.

Argent Ventures’ earliest investments were in non-performing real estate loans in major US markets.  Argent’s principals developed a track record of identifying and unlocking untapped value in distressed properties. Working with various institutional capital partners, Argent developed a reputation for quick and efficient transactions and a focus on special situations and complicated debt work-outs. 

About Highgate

Highgate is a leading real estate investment and hospitality management company with over $15 billion of assets under management and a global portfolio of more than 400 hotels spanning North America, Europe, the Caribbean, and Latin America.

With a 30-year track record as an innovator in the hospitality industry, this forward-thinking company provides expert guidance through all stages of the property cycle, from planning and development through recapitalization or disposition. Highgate continues to demonstrate success in developing a diverse portfolio of bespoke lifestyle hotel brands, legacy brands, and independent hotels and resorts, featuring contemporary programming and digital acumen. The company utilizes industry-leading revenue management tools that efficiently identify and predict evolving market dynamics to drive outperformance and maximize asset value.

Highgate, with an executive team of seasoned hospitality leaders and corporate offices worldwide, is a trusted partner for top ownership groups and major hotel brands. www.highgate.com      

About InterContinental Hotels & Resorts

InterContinental is the world’s first and largest luxury hotel brand with over 230 hotels, representing 74,728 rooms spanning more than 70 countries around the world. Founded by Pan American Airways Founder, Juan Trippe in 1946, InterContinental is guided by the belief in the power of travel to expand the mind and connect cultures.

Opening doors to a ‘world of fascination’, InterContinental is reimagining the luxury travel experience with the modern luxury traveller at its heart. Striking a harmonious balance between freedom and familiarity, InterContinental focuses on satisfying a guests’ yearning for knowledge and culturally rich experiences, building on its heritage as a beacon of approachable luxury travel.

About Monroe Capital

Monroe Capital LLC (“Monroe”) is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit solutions, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality “alpha” returns irrespective of business or economic cycles. The firm is headquartered in Chicago and has 12 locations throughout the United States, Middle East, Asia and Australia.

Monroe has been recognized by both its peers and investors with various awards including GrowthCap Advisory’s 2025 Top Private Credit Firm List; Inc.’s 2025 Founder-Friendly Investors List; DealCatalyst as the 2025 Most Innovative Private Credit CLO Manager of the Year; Private Debt Investor as the 2024 Lower Mid-Market Lender of the Year, Americas and 2023 Lower Mid-Market Lender of the Decade; Global M&A Network as the 2024 Lower Mid-Markets Lender of the Year, Americas; Korean Economic Daily as the 2022 Best Performance in Private Debt – Mid Cap; Creditflux as the 2021 Best U.S. Direct Lending Fund; and Pension Bridge as the 2020 Private Credit Strategy of the Year. For more information and important disclaimers, please visit www.monroecap.com.

Spearheaded by Gencom, the property has commenced a $100M full-scale transformation of the iconic resort, blending timeless elegance with coastal sophistication

MIAMI, FL – June 3, 2025 – Poised between the cosmopolitan grace of Miami and the natural beauty of the Atlantic, The Ritz-Carlton Key Biscayne, Miami, is embarking on a new chapter. Nearly 25 years since Gencom co-developed the asset, the iconic resort has begun a transformational improvement plan totaling over $100 million, ushering in a new era of coastal luxury. Following completion of the planned improvements, the property is slated to reopen its doors in December 2025.

Located at 455 Grand Bay Drive, the 275,000-square-foot resort spans 17 acres on the barrier island of Key Biscayne. Rising 13 stories above the shoreline, the 420-key hotel features 600 feet of pristine beach access. Since its debut in 2001, the resort has become a premier destination in Miami’s luxury hospitality landscape. The upcoming transformation marks the first comprehensive renovation of this iconic property since its inception.

Spearheaded by design architect Hart Howerton, with public spaces envisioned by Design Agency and guestrooms redesigned by Chapi Chapo Design, the renovation’s vision is deeply rooted in the resort’s island identity while elevating its refined sense of place. Each space will harmonize with the surrounding coastal landscape, incorporating soft natural tones, lush greenery, and textures that evoke the sand and seas.

“With this transformative renovation, we are honoring the property’s legacy and doubling down on our 25-year commitment to the Key Biscayne community,” said Karim Alibhai, Founder and Principal of Gencom. “These enhancements will allow the property to remain competitive in the region’s increasingly sophisticated hospitality landscape, while further elevating Key Biscayne as a premier destination.”

As a visual cue for what is to come, the resort’s exterior will be introduced with a fresh, modern color palette that will reflect the surrounding sand and sea. Inside, the lobby will undergo a complete transformation, anchored by a new East-facing glass façade that will seamlessly merge the exterior’s coastal landscape with layered natural textures and warm interior tones. The newly redesigned arrival experience will embrace the island’s tropical elegance, evoking a sense of calm and wonder.

The Spa at The Ritz-Carlton Key Biscayne, Miami, will also undergo a complete redesign to reflect the serenity of its surroundings. Drawing inspiration from the island’s native

elements, mangroves, limestone, and the ocean, it will reemerge as a sanctuary for rejuvenation and renewal.

The culinary experience will also evolve with the introduction of a completely refreshed signature restaurant, offering guests and locals bold flavors and locally inspired ingredients. In addition to the new dining offering, The Ritz-Carlton Key Biscayne, Miami will continue to welcome guests to its six long-standing dining venues, including RUMBAR, Cantina Beach, Dune, Scoop, Stefano’s, and Key Pantry. Each space will be refreshed to enhance the overall experience, ensuring continuity and charm that aesthetically aligns with the resort’s broader transformation.

Beyond the culinary experience, enhancements will extend across the property’s impressive suite of amenities. Guests will enjoy an upgraded experience across the swimming pools, fitness center, The Club Lounge, and the Cliff Drysdale Tennis Center, the largest tennis facilities of any Ritz-Carlton resort. The hotel also boasts 37,000 square feet of indoor and outdoor meeting and event space, making it a favorite among leisure travelers and business groups alike.

“The transformation represents a remarkable investment in the property’s future that will create an elevated hospitality experience for new and returning guests,” said Alessandro Colantonio, Executive Vice President and Chief Investment Officer at Gencom. “With this latest capital investment, we remain committed to ensuring that this iconic resort continues to set the standard for luxury in Miami.”

The property is a cornerstone of Gencom’s prestigious portfolio of branded properties, which includes The Ritz-Carlton Bachelor Gulch, The Ritz-Carlton New Orleans, The Ritz- Carlton Philadelphia, The St. Regis Chicago, and Nekajui, a Ritz-Carlton Reserve.

Today, Gencom’s portfolio spans nearly $8 billion in assets under management and under development and includes 23 owned assets with more than 6,000 hotel rooms around the world. Through its operating affiliates Pyramid Global Hospitality and Convene, Gencom oversees over 200 properties and more than 2 million square feet of premium meeting, event, and flexible office space.

About Gencom

Gencom is a U.S.-based investment firm that owns, operates and develops prized real estate around the world, with an emphasis on luxury hotels, resorts and branded residential properties; and which is also an active owner and investor in hospitality operating platforms. Gencom’s current real estate portfolio is comprised of some of the world’s most iconic hotels, resorts, and destinations which are amongst the leading properties in the industry with key operating partners such as Four Seasons, Ritz-Carlton, Rosewood, Auberge, Fairmont, Hyatt, Marriott and St. Regis.

Founded more than 40 years ago, Gencom has grown to become one of the nation’s leading firms specializing in the development and management of luxury resort and residential properties, alongside full-service hospitality operating platforms. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and includes 23 owned assets in operation or under development with over 6,000 hotel rooms around the world; in addition to 240 properties, comprised of 50,000 keys through its third- party management affiliate, Pyramid Global Hospitality, which oversees hotel property management and operations throughout the U.S. and Europe; and over 2 million square feet through affiliate Convene, a hospitality company that designs, builds, and manages premium meeting, event, and flexible office spaces.

For more information, visit www.gencomgrp.com.

About The Ritz-Carlton Hotel Company, LLC

The Ritz-Carlton Hotel Company, LLC currently operates more than 100 hotels in 35 countries and territories. For more information or reservations, visit the company website at www.ritzcarlton.com, for the latest company updates, visit news.marriott.com, and to join the live conversation, use #RCMemories and follow along on Facebook, Twitter, and Instagram. The Ritz-Carlton Hotel Company, L.L.C. is a wholly-owned subsidiary of Marriott International, Inc. (NASDAQ:MAR). The Ritz-Carlton is proud to participate in Marriott Bonvoy®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments, and unparalleled benefits, including complimentary nights and Elite status recognition. To enroll for free or for more information about the program, visit marriottbonvoy.com

Media Contact for Gencom:

Schwartz Media Strategies

Yudi Fernandez Kim – yudi@schwartz-media.com; (305) 725-8262 Sara Gaggia – sara@schwartz-media.com; (954) 592-4589

Annemarie Suarez – annemarie@schwartz-media.com; (786) 416-1783

Media Contact for The Ritz-Carlton Key Biscayne, Miami: Marcie McGeehan – Marcie.McGeehan@ritzcarlton.com Tatiana C. Lora – Tatiana.Lora@ritzcarlton.com

The transactions follow the commencement of a transformative $100+ million renovation at the Hotel

MIAMI, FL – June 2, 2025 – A partnership led by Gencom, a global hospitality and real estate investment firm, has closed on a $300 million debt facility to refinance existing debt and fund a large-scale renovation currently underway at The Ritz-Carlton Key Biscayne, Miami. The financing consortium was led by Blackstone Real Estate Debt Strategies.

Gencom has a longstanding history investing in the island of Key Biscayne, having originally co-developed The Ritz-Carlton property situated at 455 Grand Bay Drive nearly 25 years ago. Since its debut in 2001, the iconic resort has become a premier destination in Miami’s luxury hospitality landscape. Ushering in a new era of coastal luxury, the transformational improvement plan will enhance the hotel’s exterior façade, lobby, guestrooms, public spaces, its six dining spaces, the spa, pool areas, fitness center, The Club Lounge, and the Cliff Drysdale Tennis Center.

In tandem with the financing transaction, Key Bay Club LLLP, an affiliate of Fortune International Group, has contributed the Grand Bay Club, located at 425 Grand Bay Drive, into a Gencom-led joint venture. The partnership will unite the Hotel and Beach Club sites to create a 22-acre masterplan featuring over 1,200 linear feet of beach frontage. Gencom and Key Bay Club LLLP closed on the joint venture agreement in an all-shares transaction that will provide Key Bay Club LLLP’s an ownership interest in both, the Hotel and Beach Club properties. The Grand Bay Club will undergo a comprehensive renovation of its facilities to further elevate the exclusive Private Membership Club. The renovation scope is expected to begin in 2026, with the reenvisioned club slated to be completed by summer 2026.

“The partnership with the Grand Bay Club is an exciting and strategic opportunity, that is perfectly aligned with the enhancements currently underway at the hotel and which reaffirms our longstanding investment in the community and that will further cement Key Biscayne’s standing as one of South Florida’s most coveted beachfront destinations,” said Karim Alibhai, Founder and Principal of Gencom.

“The merger of these two trophy assets is a win-win for everyone involved because the sum of the pieces is clearly more than the individual components. Being able to possess

a property with over 1,200 feet of ocean front is extremely unique in the South Florida market”, said Edgardo Defortuna, Founder of Fortune International Group.

Tony LaBarbera, Managing Director at Blackstone Real Estate Debt Strategies said, “We are delighted to support the value-add transformation of this storied, irreplaceable resort. This transaction reflects Blackstone’s ability to deliver creative, strategic large-scale financing solutions even amidst market volatility.”

An industry leader specialized in the development and management of luxury resorts and residential properties, Gencom’s prestigious portfolio of branded properties includes The Ritz-Carlton Bachelor Gulch, The Ritz-Carlton New Orleans, The Ritz-Carlton Philadelphia, The St. Regis Chicago, and Nekajui, a Ritz-Carlton Reserve. Today, Gencom’s portfolio spans nearly $8 billion in assets under management and under development and includes 23 owned assets with more than 6,000 hotel rooms around the world. Through its operating affiliates Pyramid Global Hospitality and Convene, Gencom oversees over 200 properties and more than 2 million square feet of premium meeting, event, and flexible office space.

Fortune International has been the top real estate organization in Key Biscayne for more than 30 years with brokerage and development involvement in some of the most significant projects in the island including the Grand Bay Condominium and Villas, the redevelopment of the Sonesta Hotel into Oceana Key Biscayne, and more recently, the acquisition of the Silver Sands Beach Resort scheduled to be redeveloped in the near future.

About Gencom

Gencom is a U.S.-based investment firm that owns, operates and develops prized real estate around the world, with an emphasis on luxury hotels, resorts and branded residential properties; and which is also an active owner and investor in hospitality operating platforms. Gencom’s current real estate portfolio is comprised of some of the world’s most iconic hotels, resorts, and destinations which are amongst the leading properties in the industry with key operating partners such as Four Seasons, Ritz-Carlton, Rosewood, Auberge, Fairmont, Hyatt, Marriott and St. Regis.

Founded more than 40 years ago, Gencom has grown to become one of the nation’s leading firms specializing in the development and management of luxury resort and residential properties, alongside full-service hospitality operating platforms. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and includes 23 owned assets in operation or under development with over 6,000 hotel rooms around the world; in addition to 240 properties, comprised of 50,000 keys through its third- party management affiliate, Pyramid Global Hospitality, which oversees hotel property management and operations throughout the U.S. and Europe; and over 2 million square feet through affiliate Convene, a hospitality company that designs, builds, and manages premium meeting, event, and flexible office spaces.

For more information, visit www.gencomgrp.com.

About Fortune International Group

Synonymous with excellence, quality, customer service and unwavering commitment to the highest standards of luxury, Fortune International Group has been a recognized leader in development, sales, and marketing since 1983. With over 7,000 units and 9 million square feet of projects delivered, the company’s prestigious development portfolio includes many of the most prominent residential properties in South Florida including Faena Residences Miami, Ora by Casa Tua, The Ritz-Carlton Residences, Pompano Beach, The St. Regis Residences, Sunny Isles Beach, Nexo Residences, The Ritz- Carlton Residences, Sunny Isles Beach, Jade Residences Brickell, Jade Beach, Jade Ocean, Jade Signature and Auberge Beach Residences and Spa Fort Lauderdale.

The company’s Fortune Development Sales division is the premier, exclusive on-site sales and marketing representative for third-party development projects in South Florida, having sold more than 31,000 units and currently representing some of South Florida’s most successful projects such as: The Residences at Mandarin Oriental, Miami, Cipriani Residences, Bay Harbor Towers, Pagani Residences, Onda, Missoni Baia, Una Residences, 2000 Ocean, One Park Tower and Baccarat Residences, among others. The firm’s real estate brokerage division, Fortune Christie’s International Real Estate, is the exclusive Christie’s affiliate in Miami-Dade and Broward counties. Fortune International Group has 21 offices around the world with over 1,000 associates. Fortune’s international broker network reaches legions of prospective buyers from South Florida to Buenos Aires, Hong Kong to São Paolo, and Manhattan to Paris. For more information, visit fortuneintlgroup.com.

About Blackstone Real Estate

Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $320 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Media Contact:

Schwartz Media Strategies

Yudi Fernandez Kim – yudi@schwartz-media.com; (305) 725-8262 Sara Gaggia – sara@schwartz-media.com; (954) 592-4589

Annemarie Suarez – annemarie@schwartz-media.com; (786) 416-1783

Acquisition of 758-key hotel portfolio marks Gencom’s continued investment in New Orleans, one of the country’s most dynamic cultural and tourism destinations.

MIAMI – March 20, 2025 – Gencom, a U.S.-based investment firm that owns, operates, and develops prized real estate around the world, announces the acquisition of The Ritz-Carlton, New Orleans and the Courtyard by Marriott New Orleans French Quarter/Iberville, a 758-key hospitality portfolio comprised of two connected hotel properties situated in the heart of the city’s historic French Quarter.

Considered a city landmark, The Ritz-Carlton New Orleans is situated on the iconic Canal Street and showcases 528 hotel rooms and suites. The hotel features over 48,000 square feet of premier event space, a fitness center, an indoor swimming pool, and a 25,000 square foot world-class spa, considered the largest in New Orleans. The Ritz-Carlton also offers an array of experiences that immerse guests into the city’s vibrant culture, such as the iconic Davenport Lounge’s live jazz performances and M Bistro’s cuisine, celebrating the region’s flavors with locally sourced ingredients.

The adjacent 230-key Courtyard by Marriott French Quarter / Iberville is conveniently located within walking distance of Bourbon Street, the Caesars Superdome, and the New Orleans Ernest N. Morial Convention Center, making it an attractive choice for business and leisure travelers visiting the year-round destination.

With this two-asset acquisition, Gencom strengthens its existing relationship with Marriott International, further expanding its portfolio of globally recognized hospitality brands, which include The Ritz-Carlton, Ritz-Carlton Reserve, St. Regis Hotels & Resorts, Four Seasons, Rosewood, Andaz, Thompson, Fairmont, and Auberge Resorts.

“We continue to build upon our legacy of investing in and enhancing world-class hospitality assets with this significant acquisition that expands our presence in this high-profile destination,” said Karim Alibhai, Founder & Principal of Gencom. “New Orleans represents a compelling market for luxury hospitality, and we are excited to bring our expertise to further elevate these properties. We look forward to working closely with Marriott to ensure that The Ritz-Carlton, New Orleans and Courtyard French Quarter continue to deliver unparalleled guest experiences.” Mr. Alibhai added: “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. We are proud to have built and maintain a long-standing relationship with the Ritz-Carlton brand through both development and acquisitions.”

Both hotels have recently undergone transformative multi-year renovations, reconfirming their status as premier hospitality assets. The Ritz-Carlton New Orleans received a significant refurbishment which enhanced guest rooms and public areas, including a ~$15 million upgrade to its Maison Orleans Club Level. The Courtyard by Marriott French Quarter / Iberville also recently underwent a comprehensive renovation, modernizing all guest accommodations and public spaces, to deliver an elevated experience for guests.

The real estate transaction underscores Gencom’s commitment to expanding its hospitality portfolio in key urban markets with high tourism demand and strong economic fundamentals. The acquisition was financed by Monroe Capital, with Eastdil Secured representing both the seller in the sale and the buyer in the acquisition financing.

“As Gencom continues to acquire and develop luxury hotel assets in premier U.S. destinations, this acquisition represents a strategic expansion within the dynamic New Orleans market,” said Alessandro Colantonio, Chief Investment Officer at Gencom. “With its rich cultural heritage and thriving tourism sector, New Orleans presents a unique opportunity for long-term value, and the renovations and prime locations of both properties further enhance their positioning as top-tier hospitality assets.”

The Ritz-Carlton and Courtyard New Orleans acquisitions further reinforce Gencom’s position as a leader in the luxury hospitality sector, expanding its footprint in key gateway markets and high-demand leisure destinations worldwide. In September 2024, Gencom completed another major acquisition purchasing the 587-key Thompson Central Park, marking the firm’s entrance into New York City, one of the top leisure and business destinations worldwide.

About Gencom

Gencom is a U.S.-based investment firm that owns, operates and develops prized real estate around the world, with an emphasis on luxury hotels, resorts and branded residential properties; and which is also an active owner and investor in hospitality operating platforms. Gencom’s current real estate portfolio is comprised of some of the world’s most iconic hotels, resorts, and destinations which are amongst the leading properties in the industry with key operating partners such as Four Seasons, Ritz-Carlton, Rosewood, Auberge, Fairmont, Hyatt, Marriott and St. Regis. www.gencomgrp.com

Founded more than 40 years ago, Gencom has grown to become one of the nation’s leading firms specializing in the development and management of luxury resort and residential properties, alongside full-service hospitality operating platforms. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and includes 23 owned assets in operation or under development with over 7,000 hotel rooms around the world; in addition to 240 properties spanning over 40 locations, comprised of 50,000 keys through its third-party management affiliate, Pyramid Global Hospitality, which oversees hotel property management and operations throughout the U.S. and Europe; and over 2 million square feet through affiliate Convene, a hospitality company that designs, builds, and manages premium meeting, event, and flexible office spaces.

Media Contact:

Schwartz Media Strategies

Yudi Fernandez Kim – yudi@schwartz-media.com; (305) 725-8262

Sara Gaggia – sara@schwartz-media.com; (954) 592-4589

Annemarie Suarez – annemarie@schwartz-media.com; (786) 416-1783

Mohari Hospitality and Gencom are proud to announce the grand opening of Nekajui, a Ritz-Carlton Reserve, the first of its kind in Central and South America and the eighth in the world. Nestled within the breathtaking 1,400-acre private club and resort community of Peninsula Papagayo, Nekajui is the destination’s newest ultra-luxury sanctuary.

Marking a significant milestone for Costa Rica’s hospitality scene, the opening strengthens Gencom’s long-standing partnership with Marriott International and Ritz-Carlton and, further solidifies Gencom’s position as a leader in the luxury hospitality mixed-use sector, expanding its presence in high-demand leisure destinations as the firm continues to execute high-profile, hospitality-led real estate deals in top US and global markets.

Developed through a joint venture between Mohari Hospitality and Gencom, Nekajui, whose name derives from the indigenous word for ‘lush garden,’ embodies refined hospitality by integrating Costa Rica’s natural beauty, rich cultural heritage, and timeless luxury.

Perched on an oceanfront bluff, Nekajui features 107 luxurious rooms, including suites and three exclusive luxury treetop tens, offering panoramic ocean views. Additionally, 36 branded private residences are available for those seeking an elevated, permanent retreat.

The design vision, led by SB Architects and Gensler, takes cues from the grand haciendas of Costa Rica’s Guanacaste Province, blending local craftsmanship and cultural details. The Athens Group, a trusted partner to both Gencom and Mohari, ensured that the design and construction honored the surrounding natural landscape, offering an immersive experience that connects the past and present.

Read more about Nekajui, a Ritz Carlton Reserve, a fusion of nature and culture >>

Gencom and its affiliates continue to expand their investment and footprint in the island of Bermuda, where the firm acquired the Fairmont Southampton resort in 2019 and also owns the Rosewood Bermuda acquired in 2017.

The financing secured will fund a comprehensive renovation and redevelopment of the iconic Fairmont Southampton resort.

MIAMI, FL, September 23, 2024 – Gencom, an international owner, developer and manager of prized real estate, announced today that it has closed on a $550 million recapitalization of the Fairmont Southampton resort in Bermuda, funding a major redevelopment and expansion of the 593-key resort. With this announcement and commencement of the redevelopment, Gencom solidifies its position as the largest hospitality owner and developer on the island of Bermuda. Famous for its pink-sand beaches and accessibility to major North American cities such as Miami, New York City, Toronto and Boston, the destination ranked as the #1 location to travel to by Condé Nast Traveler’s Readers’ Choice Awards 2023.

“With this latest transaction, we are thrilled to strengthen our investment in Bermuda’s vital tourism and hospitality sector, as the country continues to rank as a leading tourism destination,” said Karim Alibhai, Founder and Principal of Gencom. “The extensive redevelopment of Fairmont Southampton reflects our deep commitment to the island’s long- term success. These enhancements will elevate the resort to a premier luxury destination, not just in Bermuda but across the broader Caribbean hospitality market.”

The extensive redevelopment underway at Fairmont Southampton will modernize the historic resort, featuring a complete transformation of all guestrooms with luxurious furnishings and elegant decor. The revamp will also include upgrades to the hotel’s expansive lobby and reception area as well as the meeting spaces and ballrooms, which will position the hotel and the island to welcome high-profile events and celebrations. The restaurant spaces will undergo a makeover to unveil sophisticated settings and elevated menu offerings. Fairmont’s Beach Club is being reimagined as a signature amenity that will include a new oceanside beach grill and lavish resort-style pool with breathtaking views of the beachfront. The redevelopment will additionally include a multi-phased residential program with luxury residences branded under the Fairmont flag. The resort is slated to reopen in early 2026, following the comprehensive renovation.

As noted by Omer Acar, Chief Executive Officer for Fairmont Hotels & Resorts, “We are thrilled to mark another notable step forward toward the reopening of Fairmont Southampton. This hotel is not only of significance to the island of Bermuda, but it is also a much-loved member of the Fairmont family. We are eager to reopen the doors and to get back to what we do best, delivering special experiences for our guests, fostering a strong team, and creating rewarding

opportunities for career-building and growth for Bermudians. It is an exciting time, and we are delighted to be working closely with our valued partners at Gencom in re-imagining this iconic property.”

Bermuda’s Minister of Tourism, the Honourable Owen Darrell, JP, said, “This is exciting news and represents a resounding vote of confidence in Bermuda and the potential of our tourism industry.”

Financing for the Fairmont Southampton transaction was provided by key institutional lenders, led by Starwood Property Trust and Clarien Bank.

“We are excited to be working with leading institutional lending partners on this venture and to reach this significant milestone with our Bermuda holdings,” said Alessandro Colantonio, Chief Investment Officer at Gencom. “As we continue to forge ahead, we look forward to delivering this world-class destination resort that will benefit the Bermuda tourism industry and local economy for decades to come.”

Lotus Capital Partners, led by Faisal Ashraf, served as capital markets advisor to Gencom on this deal.

“Clarien is proud to play a pivotal role in the financing of this transformative project, which will revitalize one of Bermuda’s most iconic resorts and strengthen the island’s position as a premier destination,” said Simon Van de Weg, Chief Banking Officer at Clarien Bank. “This underscores our commitment to supporting the growth of Bermuda’s economy through innovative financial solutions that meet the evolving needs of the Bermuda market.”

This announcement and closing follows the firm’s successful track record of acquiring, redeveloping and expanding significant luxury, mixed-use resorts including Costa Rica’s Peninsula Papagayo, which includes a Four Seasons resort, Andaz by Hyatt resort and a Ritz- Carlton Reserve that is currently under construction.

In May 2024, Gencom also announced the successful refinancing of the Rosewood Bermuda, an ultra-luxury hotel boasting 88 keys with sweeping views of the Atlantic Ocean, Castle Harbour and Harrington Sound. The hotel’s amenities feature a 2,700-square-foot ballroom, a 12,000-square-foot luxury spa with eight treatment rooms and a reflecting pool, as well as several more dining options. The five-star resort is located in Tucker’s Point, spanning 240 waterfront acres and considered the longest private beach on the island. The financing was originated by Blackstone Mortgage Trust, Inc. (NYSE: BXMT) and KSL Capital Partners, LLC for an undisclosed amount and terms. Gencom is currently leading a $17 million renovation of the Rosewood resort that includes improvements to the golf course and clubhouse, the Beach Club and the addition of new amenities and food & beverage options.

Gencom’s Bermuda assets are part of the firm’s illustrious branded hotel portfolio, which includes destinations such as The Ritz-Carlton Bachelor Gulch; The Ritz-Carlton Key Biscayne; The Ritz-Carlton Philadelphia; The St. Regis Chicago; Four Seasons Costa Rica; Nekajui Ritz-Carlton Reserve currently under construction; and other five-star flags under Auberge, Hyatt, and more. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and under development and includes 24 owned assets with over 7,000 hotel rooms around the world.

About Gencom

Gencom is a U.S.-based investment firm that owns, operates and develops prized real estate around the world, with an emphasis on luxury hotels, resorts and branded residential properties; and which is also an active owner and investor in hospitality operating platforms. Gencom’s current real estate portfolio is comprised of some of the world’s most iconic hotels, resorts, and destinations which are amongst the leading properties in the industry with key operating partners such as Four Seasons, Ritz-Carlton, Rosewood, Auberge, Fairmont, Hyatt, Marriott and St. Regis. www.gencomgrp.com

Founded more than 40 years ago, Gencom has grown to become one of the nation’s leading firms specializing in the development and management of luxury resort and residential properties, alongside full-service hospitality operating platforms. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and includes 24 owned assets in operation or under development with over 7,000 hotel rooms around the world; in addition to 240 properties spanning over 40 locations, comprised of 50,000 keys through its third-party management affiliate, Pyramid Global Hospitality, which oversees hotel property management and operations throughout the U.S. and Europe; and over 2 million square feet through affiliate, Convene, a hospitality company that designs, builds, and manages premium meeting, event, and flexible office spaces.

About Starwood Property Trust

Starwood Property Trust (NYSE: STWD), an affiliate of global private investment firm Starwood Capital Group, is a leading diversified finance company with a core focus on the real estate and infrastructure sectors. As of June 30, 2024, the Company has successfully deployed over $98 billion of capital since inception and manages a portfolio of $26 billion across debt and equity investments. Starwood Property Trust’s investment objective is to generate attractive and stable returns for shareholders, primarily through dividends, by leveraging a premiere global organization to identify and execute on the best risk adjusted returning investments across its target assets. Additional information can be found at www.starwoodpropertytrust.com.

About Clarien Bank

Clarien Bank Limited (“Clarien Bank”) provides personal, wealth management and corporate banking, to clients in Bermuda and internationally. Clarien Bank is one of the largest independent integrated financial services organisations in Bermuda and through subsidiary companies is licensed to conduct banking, investment, corporate services and trust business by the Bermuda Monetary Authority.

Media Contact for Gencom:

Schwartz Media Strategies

Yudi Fernandez Kim – yudi@schwartz-media.com; (305) 725-8262 Jen Le – jen@schwartz-media.com; (239) 860-7379

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 4,500 square feet of modern meeting space, an impressive lineup of food and beverage concepts, and a 6,500-square-foot, world-class Exhale spa and fitness center expected to open later this year. The hotel’s distinctive Upper Stories experience offers an elevated level of luxury and personalized services – including a private arrival and departure process and exclusive Upper Stories guest lounge – with a collective of guestrooms and suites perched on the hotel’s topmost guest floors.

Thompson Central Park is home to one of New York City’s most popular eateries, the iconic Burger Joint, which serves one of the city’s best burgers and is open for lunch and dinner, Parker’s, a restaurant located in the hotel’s main level featuring live music and crafted cocktails named after famous jazz songs, and Indian Accent, an upscale dining experience by Chef Manish Mehrotra that delights patrons with a unique twist on traditional Indian dishes. 

The acquisition financing for this transaction was provided by affiliates of Ramsfield Hospitality Finance, Affinius Capital and AB CarVal.

The real estate transaction signifies Gencom’s first foray into New York City, a global luxury hospitality market that attracts more than 63 million business and leisure travelers annually. 

“As Gencom continues to acquire trophy hotel assets in core U.S. markets, we were able to secure the acquisition of Thompson Central Park, marking our entrance into one of the world’s top hospitality markets and a great addition to our portfolio of prized hotel and resort properties,” said Gencom’s Chief Investment Officer Alessandro Colantonio. “We recognize the long-term value of this investment given the property’s central location and recent extensive renovation that further elevated its guestrooms, luxe amenities and modernized meeting spaces to position this asset as a premier leader in New York City’s luxury lodging market.”

The acquisition also marks the first addition of a Thompson Hotels-branded hotel to Gencom’s growing hospitality portfolio, which includes distinguished brands such as The Ritz-Carlton, Four Seasons Hotels and Resorts, St. Regis, Rosewood, Andaz, Fairmont, and Auberge Resorts. Gencom and Hyatt’s relationship includes the planned redevelopment of downtown Miami’s iconic Hyatt Regency Miami hotel, as well as the acquisition and renovation of Andaz Costa Rica Resort at Peninsula Papagayo.

“With this latest hotel acquisition, we continue to grow our diverse real estate portfolio and further strengthen our relationship with Hyatt, while adding Thompson Central Park as the latest hotel flag in our portfolio,” said Karim Alibhai, Founder & Principal of Gencom. “Recognizing the strength of the U.S. hospitality market, particularly in cities with high barriers to entry like New York, this transaction represents a key addition to our hospitality portfolio in North America that includes iconic hotel properties in major markets such as Miami, Chicago, Denver and Philadelphia.”

The hotel is centrally located near some of New York City’s premier artistic and cultural institutions such as Carnegie Hall, the MoMA (The Museum of Modern Art), and many legendary fine dining destinations. The property offers scenic views of Central Park, considered one of the city’s top attractions, spanning 843 acres of lush green space with walking trails, lakes, recreation fields and multiple restaurants. 

“We are excited to deepen our relationship with Gencom and continue collaborating in even more meaningful ways across its diverse portfolio of Hyatt hotels,” said Pete Sears, Group President, Americas, Hyatt. “We look forward to Thompson Central Park’s further success with Gencom’s strategic investment and vision, paired with Hyatt’s innovative approach to lifestyle hotel management.” 

Eastdil Secured, a global real estate investment bank, represented the seller in the property’s sale and also represented Gencom in arranging the acquisition financing. 

“The sale of Thompson Central Park underscores the growing investor conviction in the New York City lodging market,” said Jeffrey Davis, Managing Director of Eastdil Secured. “The strong fundamentals and growth momentum have now become common knowledge, and we expect to see heightened transaction volume as a result.”

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one more of its affiliates.

About Gencom

Gencom is a U.S.-based investment firm that owns, operates and develops prized real estate around the world, with an emphasis on luxury hotels, resorts and branded residential properties; and which is also an active owner and investor in hospitality operating platforms. Gencom’s current real estate portfolio is comprised of some of the world’s most iconic hotels, resorts, and destinations which are amongst the leading properties in the industry with key operating partners such as Four Seasons, Ritz-Carlton, Rosewood, Auberge, Fairmont, Hyatt, Marriott and St. Regis. www.gencomgrp.com

Founded more than 40 years ago, Gencom has grown to become one of the nation’s leading firms specializing in the development and management of luxury resort and residential properties, alongside full-service hospitality operating platforms. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and includes 23 owned assets in operation or under development with over 7,000 hotel rooms around the world; in addition to 240 properties spanning over 40 locations, comprised of 50,000 keys through its third-party management affiliate, Pyramid Global Hospitality, which oversees hotel property management and operations throughout the U.S. and Europe; and over 2 million square feet through affiliate, Convene, a hospitality company that designs, builds, and manages premium meeting, event, and flexible office spaces.

About Thompson Hotels

Thompson Hotels have transformed conventional hospitality into dynamic cultural moments inspired by the surrounding streets since the brand’s first hotel opened in downtown NYC more than 20 years ago. Today, the brand continues to channel local creative energy into its expanding international portfolio of properties, with restaurants helmed by top culinary names, lobbies that double as cultural epicenters, boundary-pushing music programs, and more. The result is a magnetic hub built for collective gathering, where distinct design is an ethos and a signature part of the guest experience. Each hotel serves as an inspiring home base for guests and creatives alike to connect with each other and what moves culture forward. The Thompson Hotels portfolio of luxury lifestyle hotels currently includes The Beekman, Gild Hall and Thompson Central Park New York in New York City; Thompson Washington D.C.; Thompson Nashville; Thompson Seattle; Thompson Chicago; The Cape in Los Cabos, Mexico; Thompson Playa del Carmen on Mexico’s Riviera Maya; Thompson Zihuatanejo on Mexico’s Pacific Coast; Thompson Dallas, Thompson San Antonio, and Thompson Austin in Texas; Thompson Savannah; Thompson Hollywood; Thompson Buckhead; Thompson Denver; and Thompson Madrid in Spain. Follow @ThompsonHotels on Facebook, Twitter, and Instagram for news and updates. For more information, please visit www.thompsonhotels.com.

Photo Credit Julie Soefer Photography

Gencom and its affiliates deepen investment in Bermuda, with plans for a $17 million renovation of the master-planned community at Tucker’s Point 

MIAMI, FL – May 1, 2024 – Affiliates of Gencom, an international owner, developer and manager of hospitality and residential properties, announced today the successful refinancing of the Rosewood Bermuda. The five-star resort is located in Tucker’s Point, spanning 240 waterfront acres and featuring over 800 linear feet of beachfront, making it the longest private beach on the island. The financing was originated by Blackstone Mortgage Trust, Inc. (NYSE: BXMT) and KSL Capital Partners, LLC for an undisclosed amount and terms. 

Gencom acquired the fee-simple, Rosewood Tucker’s Point master-planned estate out of receivership in 2017. Following the acquisition, Gencom executed a series of repositioning efforts, including a complete operational overhaul and a more than $24 million renovation of the asset. 

“The successful refinancing of the Rosewood Bermuda reaffirms Gencom’s long-term commitment to the country’s economic growth. Along with the Fairmont Southampton, Bermuda property, we look forward to elevating the local hospitality and tourism landscape, while opening the doors for other institutional lenders and developers to explore investment opportunities in Bermuda,” said Karim Alibhai, Founder & Principal of Gencom. “We are grateful for the continued support from the Government of Bermuda, the Bermuda Industrial Union and the local community as we further advance our development plans, generating jobs and economic benefits for the country for years to come.” 

Gencom’s planned $17 million renovation of Tucker’s Point will include improvements to the 18-hole, par-70 Golf Course & Clubhouse; and Beach Club, which features Bermuda’s longest stretch of private beach and is home to two pools, a restaurant, and a watersports center; as well as adding new amenities and food & beverage options. The community also features a Tennis Club with four Har-Tru clay courts, 48,000 square feet of waterfront land, as well as Rosewood Residences, Harbor Court Residences and single-family homes. 

“KSL is pleased to have the opportunity to continue to build on our firm’s partnership with Gencom,” stated Dan Rohan, Partner and Head of Tactical Opportunities at KSL. “As a sector fund, KSL is dedicated to making investments in travel and leisure businesses. This investment is yet another example of KSL’s commitment to supporting sponsors in their ownership of iconic hospitality assets and our ability to use creative and flexible capital solutions with firms like Gencom through our Tactical Opportunities vehicle.” 

Operated by Rosewood Hotels and Resorts, the ultra-luxury hotel boasts 88 keys with sweeping views of the Atlantic Ocean, Castle Harbour and Harrington Sound. Additional amenities to the aforementioned include a 2,700-square-foot ballroom, a 12,000-square-foot luxury spa with eight treatment rooms and a reflecting pool, and several more dining options on property. 

Alongside the redevelopment of the Fairmont Southampton that is currently underway, Gencom looks forward to continuing its investment in Bermuda’s vital tourism and hospitality industry. The country continues to rank as a leading tourism destination, famous for its pink-sand beaches and accessibility to major North American cities such as Miami, New York City, Toronto, Boston, among others. In fact, Bermuda was ranked the #1 spot to travel to by Condé Nast Traveler’s ‘Readers’ Choice Awards 2023.’ 

Gencom’s Bermuda assets are part of the firm’s illustrious branded hotel portfolio, which includes other brands such as The Ritz-Carlton Bachelor Gulch; The Ritz-Carlton Key Biscayne; The Ritz-Carlton Philadelphia; The St. Regis Chicago; Nekajui Ritz-Carlton Reserve, and other five-star flags such as Auberge, Four Seasons, Hyatt, and more. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and under development and includes 23 owned assets with over 7,000 hotel rooms around the world. 

About Gencom 

Gencom is a U.S.-based investment firm that owns, operates and develops prized real estate around the world, with an emphasis on luxury hotels, resorts and branded residential properties; and which is also an active owner and investor in hospitality operating platforms. Gencom’s current real estate portfolio is comprised of some of the world’s most iconic hotels, resorts, and destinations which are amongst the leading properties in the industry with key operating partners such as Four Seasons, Ritz-Carlton, Rosewood, Auberge, Fairmont, Hyatt, Marriott and St. Regis. www.gencomgrp.com 

Founded more than 40 years ago, Gencom has grown to become one of the nation’s leading firms specializing in the development and management of luxury resort and residential properties, alongside full-service hospitality operating platforms. Today, the Gencom portfolio is comprised of nearly $8 billion in assets under management and includes 23 owned assets in operation or under development with over 7,000 hotel rooms around the world; in addition to 240 properties spanning over 40 locations, comprised of 50,000 keys through its third-party management affiliate, Pyramid Global Hospitality, which oversees hotel property management and operations throughout the U.S. and Europe; and over 2 million square feet through affiliate, Convene, a hospitality company that designs, builds, and manages premium meeting, event, and flexible office spaces. 

About Rosewood Hotel Group 

Rosewood Hotel Group, a privately owned company, is one of the world’s leading global lifestyle and hospitality management groups. It encompasses four brands: ultra-luxury Rosewood Hotels & Resorts®; upper-upscale New World Hotels & Resorts; Asaya, an integrated well-being concept; and Carlyle & Co., a modern and progressive private members club. Its combined hotel portfolio consists of 44 hotels in 20 countries with more than 30 new properties currently under development.   

About Blackstone Mortgage Trust 

Blackstone Mortgage Trust (NYSE: BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe, and Australia. Our investment objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns primarily through dividends generated from current income from our loan portfolio. Our portfolio is composed primarily of loans secured by high-quality, institutional assets in major markets, sponsored by experienced, well-capitalized real estate investment owners and operators. These senior loans are capitalized by accessing a variety of financing options, depending on our view of the most prudent strategy available for each of our investments. We are externally managed by BXMT Advisors L.L.C., a subsidiary of Blackstone. Further information is available at www.bxmt.com. 

About KSL Capital Partners 

KSL Capital Partners is a private equity and private debt investment management firm specializing in travel and leisure enterprises. KSL has offices in Denver, Colorado; New York City; Stamford, Connecticut; and London, England. Since 2005, KSL has raised in excess of $23 billion of capital across its equity, credit and tactical opportunities funds. KSL’s current and past portfolio contains some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com