GUANACASTE, Costa Rica, Nov. 4, 2021 /PRNewswire/ — Peninsula Papagayo, the 1,400-acre private club and resort community located on Costa Rica’s north Pacific coast, today announced plans to build Nekajui, a Ritz-Carlton Reserve and Nekajui, a Ritz-Carlton Reserve Residence.

Designed for the most discerning eco-adventure leisure travelers, Nekajui, a Ritz-Carlton Reserve (pronounced NEK-ah-wee) is a new expression of luxury hospitality, welcoming guests on a highly personalized journey to one of the world’s most naturally beautiful and biodiverse destinations.

For collectors of rare trophy homes in exotic corners of the world, Nekajui, a Ritz-Carlton Reserve Residence, presents an extraordinary evolution of the hugely popular branded-residence concept.

About Nekajui, a Ritz-Carlton Reserve

• 107 guest rooms and suites on Pochote Bay; scheduled to open in 2024

Curated for adventurers seeking highly tailored and culturally immersive experiences, Nekajui converges on the human element that is intrinsic to true luxury.

“Service will be highly personalized,” says Simon Cooper, Gencom board member and lead advisor to Peninsula Papagayo. “With more staff and relatively fewer rooms, Nekajui has the privilege and uncommon opportunity to personally host guests, one-to-one.”

Growing demand from the most discerning leisure travelers is what motivated Gencom and Mohari Hospitality, co-owners of Peninsula Papagayo, to look beyond the gilded suites and familiar trappings of luxury. Cooper believes Nekajui will provide a much-needed antidote for the “been there, done that” syndrome. “It’s no longer just about the best guest rooms or facilities,” Cooper said, “it is about creating extraordinary experiences and lifetime memories.”

Inspired by Guanacaste’s classic haciendas, intimate public spaces bring together rich details from Spanish and Sabanero culture. Curated collections of original works by local artisans provide tactile touchpoints to explore the old and new. Lavish guest rooms are designed in a contemporary Costa Rican vernacular with spacious canopied patios and private plunge pools framing spectacular ocean and sunset views across the Gulf of Papagayo. Fittingly, the spa and fitness hub is accessed by a dramatic hanging bridge, inviting guests on an unforgettable path to lifelong wellness.

The name Nekajui comes from the language of the pre-Columbian Chorotegas, Guanacaste’s original inhabitants. The English translation, garden, inspired Nekajui’s singular open-air venues that welcome guests to step into a natural wonderland containing more species per square mile than any other country on the planet. A secluded beach house, reserved for hotel guests and residence owners, is situated steps from magical grotto pools and sea caves in Pochote Bay.

Other exclusive amenities include three signature Ritz-Carlton Reserve dining experiences, and Jean-Michel Cousteau’s Ambassadors of the Environment, which will offer an immersive gateway and uncommon access to 570 square miles of protected wildlands.

About Nekajui, a Ritz-Carlton Reserve Residence

• 36 rare villas and estate homes from over $3 million to over $13 million, located adjacent to the new Ritz-Carlton Reserve resort at Peninsula Papagayo, sharing access to all services and amenities
• Available by reservation starting November 2021

Located immediately adjacent to the new Ritz-Carlton Reserve, Nekajui’s exclusive residential enclave of two- to five-bedroom luxury villas and estate homes occupies the premier oceanfront property at Peninsula Papagayo. Secluded between two protected coves, a short walk from multiple beaches and golf, the site was handpicked for its unspoiled landscape and stunning natural setting. Construction of both the hotel and residences will commence early next year.

“Nekajui, a Ritz-Carlton Reserve Residence, was designed for collectors of trophy homes in exotic corners of the world,” said Donald McGregor of Miami-based Gencom, the developer and co-owner of Peninsula Papagayo.

Every aspect of the ownership experience will be curated and meticulously cared for by a dedicated Ritz-Carlton Reserve residential team. One of the many features of ownership will include hyper-personalized itineraries for each family member and houseguest, co-created alongside a dedicated team of credentialed local experts.

“Our clients receive all of the benefits of a boutique resort with enhanced outdoor living areas, individualized service, and privacy,” McGregor said. “More than ever, the top 0.1% is looking for an exotic sanctuary to escape boredom and spend quality time with friends and family.”

The unveiling of Nekajui follows a surge in demand from ultra-high net worth individuals for luxury-branded residences. Sales of Peninsula Papagayo’s luxury real estate have exceeded a record $200 million in 2021.

Nekajui’s rare villas and estate homes will be offered for sale under an exclusive priority reservation program starting in November 2021. Prices are expected to range from over $3 million to over $13 million. Two- to five-bedroom floorplans offer 2,200-6,300 square feet of luxe interior area. Additionally, most residences feature spacious outdoor living areas with canopied terraces and private pools. All homes will be delivered turnkey and fully furnished.

For more information, visit explorenekajui.com.

About Peninsula Papagayo
Situated on Costa Rica’s North Pacific coast in the province of Guanacaste, Peninsula Papagayo is Latin America’s ultimate coastal retreat offering an unparalleled closeness to nature and a lifetime of adventure in one of the most peaceful and biodiverse countries in the world. The community includes Four Seasons Resort Costa Rica at Peninsula Papagayo, Andaz Costa Rica Resort at Peninsula Papagayo, Bahias by Antoine Predock, the Clubhouse at Prieta Beach, the Arnold Palmer Signature Ocean Course at Peninsula Papagayo, Marina Papagayo, and an exclusive collection of oceanfront homes and villas. Peninsula Papagayo is located 30 minutes from Liberia International Airport, which offers more than 100 weekly flights seasonally from major cities in the U.S., Canada, the U.K., and across Central America. For more information, visit the website: https://peninsulapapagayo.com.

About Gencom
Founded in 1987 by Karim Alibhai, Gencom is a U.S.-based investment firm that owns and operates prized real estate around the world, with an emphasis on luxury hotels, resorts, and residential properties. Iconic properties include Four Seasons Resort Costa Rica at Peninsula Papagayo, The Ritz-Carlton Key Biscayne, Miami in Fla., The Ritz-Carlton, Bachelor Gulch in Colorado, and Rosewood Tucker’s Point in Bermuda. Headquartered in Miami, Gencom is fully integrated, with expertise in virtually every aspect of development, acquisition, financing, asset management, and the sale of hospitality properties. Gencom has had success developing, purchasing, and exiting single assets and hotel portfolios, as well as in creating, purchasing, and growing hospitality platform investments throughout the United States, Caribbean, and Europe. For more information about Gencom, please visit http://www.gencomgrp.com.

About Mohari Hospitality
Mohari Hospitality, founded in 2017 by entrepreneurial investor Mark Scheinberg, is a global investment company that engages in a broad range of real estate investment activities, with an emphasis on luxury hospitality in prime urban and resort markets. Mohari’s investments include equity and debt in both development and operating assets and Mohari invests both independently and with partners. Mohari’s existing investments include Peninsula Papagayo, a 2,200-acre sustainable master development, located in Costa Rica’s Guanacaste province and anchored by a Four Seasons luxury resort; The Ritz-Carlton Yacht Collection, a new ultra-luxury cruise line launching in 2021 and; Centro Canalejas, a group of seven adjoining historical buildings in the center of Madrid, featuring the first Four Seasons branded hotel in Spain; and the 205 room Waldorf Astoria, Miami which is to be the tallest tower south of Manhattan and is currently in pre-development residential sales. Mohari seeks to protect the cultural heritage and natural environments of all areas related to its projects and is committed to identifying and contributing to philanthropic projects in each location where it does business. Additional information can be found at moharihospitality.com.

Press Contact:
Danielle Finnegan
Director of Public Relations
Peninsula Papagayo
Guanacaste, Costa Rica
danielle.finnegan@peninsulapapagayo.com
+1 (954) 997-8665

NEKAJUI, A RITZ-CARLTON RESERVE RESIDENCE, IS NOT OWNED, DEVELOPED OR SOLD BY THE
RITZ-CARLTON HOTEL COMPANY, L.L.C. OR ITS AFFILIATES (“RITZ-CARLTON”). INVERSIONES HOTELERAS PLAYA POCHOTE, S.R.L. USES THE RITZ-CARLTON MARKS UNDER A LICENSE FROM RITZ-CARLTON, WHICH HAS NOT CONFIRMED THE ACCURACY OF ANY OF THE STATEMENTS OR REPRESENTATIONS MADE HEREIN.

SOURCE Peninsula Papagayo

RELATED LINKS

www.peninsulapapagayo.com

Hyatt Hotels Corp. and two local firms are planning to unveil a new design for a long-stalled redevelopment of the chain’s Regency hotel downtown and the city’s 40-year-old James L. Knight Center complex.

The concept, which will be presented for the first time Tuesday morning to a subcommittee of the Miami River Commission, would transform the convention center complex, completed in 1982, into a three-tower structure that would add contours to Miami’s growing skyline.

It would create a public promenade along the riverfront with green space and a terraced entrance to restaurants. Renderings provided to the Miami Herald show rounded, glassy facades stretching into the sky would replace the shorter, blockier concrete exterior.

One of a list of aging city-owned sites eyed for redevelopment for years, the property near the mouth of the Miami River at 400 SE Second Ave. currently has auditoriums, meeting space and a 612-room hotel run by Hyatt under a long-term lease executed in 1979. Under existing terms, Hyatt would in 2027 have the option of renewing the lease for another 45 years.

Hyatt previously presented plans in 2017 and 2018, though the matter never made it to the ballot. Now, Hyatt has tapped a Miami-based team including developer Gencom and Arquitectonica to design a new vision for a complete overhaul of the property. The team will ask the city to extend the lease for another 99 years.

The financial terms of the proposal are still being negotiated and land appraisals are not yet complete, according to Miami City Manager Art Noriega’s administration. The city commission is not expected to consider a complete proposal until late June. Any deal would need voter approval under a city law that requires a referendum for long-term leases of city-owned waterfront property. The developers plan to ask commissioners to place the question on the November ballot.

For now, the development team is focused on introducing the new design concept in hopes of gaining traction with City Hall and other civic leaders.

“We would hope the architecture of the site would become a postcard shot of Miami,” said Phil Keb, executive vice president of Gencom.

The plan calls for a complex with 615 hotel rooms, more than 1,500 market-rate apartments, revamped meeting space and a transformed public riverwalk. Two 61-story towers would include apartments, hotel rooms and extended-stay units, and a third rising more than 1,000 feet would hold 860 residential apartments. A skybridge with a restaurant would connect the two shorter towers, with a view of the city from 700 feet off the ground.

The towers would rise above a massive pedestal that would hold about 190,000 square feet of meeting space, replacing the current convention space and the 4,500-seat auditorium that has hosted graduation ceremonies, concerts and, in the early days, University of Miami basketball games.

The ground-floor structure would also conceal a large circular driveway with multiple lanes for arrivals and drop-offs — a feature designers say will prevent long car queues from spilling out into streets already choked with traffic.

“We had to deal with the reality of cars,” said Bernardo Fort-Brescia, Arquitectonica co-founder, in an interview with the Herald. “The drop-off became a priority.”

Fort-Brescia and fellow architect Alejandro Gonzalez said they sought to give the space a “sense of arrival” that would at once be functional for cars and welcoming for pedestrians walking from downtown or getting off the Metromover.

The plan’s potential to upgrade the ground-level experience on the riverfront and even on the street-side along Southeast Fourth Street is appealing to Neal Schafers, head of urban planning for the Downtown Development Authority. He said with outdoor dining and grassy areas planned for the riverfront and new drop-off, the concept has promise. “From what I’ve seen in the proposed design, it would be fixing issues on one side with riverside activation and hopefully fixing ingress and egress issues on the north side,” he said.

Last week, the development team presented the vision to Commissioner Ken Russell, whose district includes the site. He told the Herald he was pleased to see green space and a more inviting riverwalk concept in the designs. He said the proposal is an upgrade from the last designs presented to the commission about four years ago.

One aspect of the plan expected to spark more conversation: All of the apartments are planned to be leased at market rates, which would mean more sky-high rents in downtown Miami. In a city facing a housing affordability crisis that continues to get worse, Russell and other commissioners could push the developers to rent out some units below market rates.

“This project does not address our affordable housing crisis in any way, so we need to see how this fits in with our goals,” Russell said.

Keb, the Gencom executive, said his team is anticipating the housing discussion.

“Whether that will be onsite or at other locations, yes, there is an affordable or workforce housing component that will be part of the overall project,” he said.

The design has already incorporated some feedback that Russell gave four years ago, including the emphasis on beautifying the riverfront and creating an inviting space for residents and tourists. The development team’s approach to presenting the concept is different this time, said James Francque, Hyatt’s global head of transactions.

“Before, it was Hyatt taking the lead in terms of speaking with city commissioners, speaking with the real estate department of the city of Miami,” Francque said. “Ultimately, we concluded that we needed to step back and switch this up. We selected our local partners before we started having these conversations.”

If a complete redevelopment is not endorsed by either the commission or the voters, Hyatt will still have rights to operate on the site for another 50 years. Francque said at that point, the conversation could shift to upgrading existing facilities, but his team feels a broader redevelopment is a better fit for downtown.

“From my perspective it’s very feasible to do it,” Franque said. “Everyone seems to be working in the same direction.”

Read more at: https://www.miamiherald.com/news/local/community/miami-dade/article261245017.html#storylink=cpy

Combined organization is positioned to be the industry’s most owner-focused, experiential management company and an employer of choice BOSTON and THE WOODLANDS, Texas – September 30, 2021 – Two storied hotel and resort.

BOSTON and THE WOODLANDS, Texas – September 30, 2021 – Two storied hotel and resort management companies have aligned forces, creating one powerhouse organization strategically positioned for the future of the global hospitality industry: Benchmark Pyramid. With a worldwide portfolio of 210 properties and annual operating revenue under management of more than $3 billion, the new company captures the passions and unique strengths of Benchmark Global Hospitality, a celebrated leader in the development and management of independent and lifestyle properties, and Pyramid Hotel Group, with its history of success across branded/franchise and resort properties. Benchmark Pyramid’s combined centers of excellence will make it the property manager and employer of choice as it delivers improved and accelerated results focused on service to owners and hotel guests. The new entity is backed by each company’s respective longtime investment partners, Gencom and TZP Group. Serving as co-chairs are Pyramid Hotel Group co-founder Rick Kelleher and Benchmark founder Burt Cabañas—both hospitality industry visionaries who built their respective companies from the ground up.

A meeting of minds between hospitality industry innovators
Leading the new company are CEO Warren Fields, formerly CEO and founding partner of Pyramid Hotel Group, and President Alex Cabañas, the former CEO of Benchmark Global Hospitality. Its European platform will continue to be led by Frank Croston, CEO of U.K.-based Hamilton Hotel Partners, a Pyramid Hotel Group Company. “Entertaining the idea of a merger has always been about finding the right fit in terms of both business strategy and employee culture,” said Fields in announcing the merger. “We recognized early in our discussions there were unique and exceptional advantages in combining the respective strengths of our organizations. Together, Benchmark Pyramid has the depth, capability and DNA to innovate and lead for years to come, which will significantly increase owner value, employee advancement opportunities, and portfolio growth.”
“Since the beginning, specialization and differentiation have been the focus of our merger conversations,” said Alex Cabañas. “Our goal is to be the best in independent and brand management as well as the most experiential hotel company in the industry for our guests, our employees and the communities we’re in.”

Expanded service offering and strengthened divisions
Specifically, Benchmark Pyramid will provide a wider range of specialized services going forward while continuing to offer all services available before the merger. Across the diverse portfolio of properties, its core businesses include management of independent, lifestyle, soft brand, full-service and select-service hotels and resorts, as well as corporate conference centers, day meetings and event centers. It also offers a full range of hospitality advisory and technical services, from experiential on-property innovation to receivership, asset management, project management and Benchmark’s ACCESS platform; and real estate investments and partnerships.

About Benchmark Pyramid
Benchmark Pyramid was formed by the 2021 merger of two hotel and resort management companies, creating the most owner-focused, experiential company in the industry and its best workplace. The organization’s global portfolio spans 210 properties in the U.S., Caribbean and Europe. It maintains offices in Boston; The Woodlands, Texas; Cincinnati; and London. For more information, visit
www.benchmarkpyramid.com

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 hospitality with further emphasis on the luxury, mixed-use sector as well as related operating platform investments. 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, including Gencom American Hospitality, Summerfield Suites, Carnival Resorts and Interstate Hotels. Gencom companies’ successful track record has led to significant ventures with prominent institutional investors, prominent family groups and other strategic partners both domestically and internationally. For more information about Gencom, please visit
www.gencomgrp.com

About TZP Group
TZP Group, a multi-strategy private equity firm managing approximately $2.2 billion across its family of funds including TZP Capital Partners, TZP Small Cap Partners, TZP Strategies and TZP Strategies Acquisition Corp., is focused on control, growth equity and structured capital investments in business services, technology, and consumer companies. TZP has recently launched an Impact Investing strategy that invests in mission-oriented businesses addressing key U.N. Sustainable Development challenges. Founded in 2007, TZP targets companies with solid historical performance and sustainable value
propositions and aims to be a “Partner of Choice” for business owners and management teams. TZP seeks to invest primarily in closely held, private companies in which the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals’ operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation. For more information, please visit

www.tzpgroup.com

New Owner is Planning a Significant Investment to Reaffirm Fairmont Southampton, Bermuda as One of The Island’s Premier Destination Resorts

 

Miami, Florida (December 16, 2019) – An affiliate of Miami-based Gencom, a leading domestic and international investment and development firm, has acquired Fairmont Southampton, Bermuda.  The hotel will remain under the brand and management of Fairmont Hotels & Resorts.  News of the acquisition comes with the announcement that the U.S.-based investment firm has committed to a long-term investment in the property, returning one of Bermuda’s leading resorts to its original glory.  Financial terms of the transaction were not disclosed.

 

The acquisition marks Gencom’s second investment in Bermuda.  In 2017, a Gencom-led affiliate acquired the 200-acre Tucker’s Point development from receivership that includes Rosewood Bermuda, the island’s renowned, ultra-luxury resort.  Following the acquisition, the affiliate executed an expansive, $25 million renovation of the property.  The acquisition of Fairmont Southampton reaffirms the firm’s confidence in the island’s hospitality and  tourism sector.  Bermuda benefits from direct flight access from the East Coast of the U.S., as well as Europe, making it a natural destination for leisure and group travelers.  Over the last couple of years, Bermuda has seen double digit growth in airport arrivals, as well as foreign spending.  With a new, state-of-the-art airport opening in the first half of 2020, increase in airlift and visitation is expected.

 

“Acquiring Fairmont Southampton demonstrates Gencom’s steadfast commitment to supporting the long-term growth of Bermuda’s tourism and hospitality sector,” said Gencom Founder Karim Alibhai. “The island is located less than three hours from most major North American cities, making Bermuda a rare and accessible paradise.  With a planned restoration, we aim to create a wonderful, updated destination resort experience at Fairmont Southampton for leisure and group travelers from all over the world.”

 

Perched on Bermuda’s stunning south shore with miles of pink sand beaches, the luxurious Fairmont Southampton beach resort sits on nearly 100 acres.  As the largest hotel in Bermuda, the 593-room resort offers unparalleled amenities including ten restaurants; 18-hole championship par 3 golf course; indoor spa pool and outdoor resort pool; 31,000 square foot signature branded Willow Stream Spa; state-of-the-art fitness center and 29,000 square feet of meeting space.  One of the most defining features of the property is the resort’s sprawling oceanfront Beach Club, which features water sports, an all-weather tennis center and ocean-side dining.  Set on a private pink sand beach overlooking Bermuda’s striking turquoise water, the Beach Club is perfect for both sunning and sports.  Fairmont Southampton has been a AAA Four Diamond resort since 1982. The new ownership is committed to a significant investment in the long-term success of the resort. Gencom is currently reviewing all aspects of the property and anticipates a full reveal of their re-imagined designs for the resort in 2020.

 

“Adding Fairmont Southampton to our luxury, mixed-use portfolio demonstrates Gencom’s ongoing strategy of seeking prime hospitality investment opportunities and creating value through the redevelopment and repositioning of these assets,” said Alessandro Colantonio, Gencom’s Executive Vice President of Acquisitions & Capital Markets. “As a result of our successful acquisition and renovation of Rosewood Bermuda, Gencom has gained acute knowledge and experience in the Bermuda market.  We are well-poised to properly restore the iconic Fairmont Southampton, further expanding our local relationships and presence in the market.  Through our planned investments, the resort will once again become a leading destination for both leisure and group travelers.”

 

“The Government applauds this deal as testament not only to Gencom’s strong commitment to Bermuda but also to the continuing renaissance of our island’s tourism industry,” said Zane DeSilva, Minister of Tourism & Transport. “We support what it means for this hallmark hotel and welcome the fact it sends a strong message to the world about Bermuda’s tourism investment value.”

 

“As with Gencom’s purchase of Rosewood Bermuda, this major investment underscores robust confidence in our island’s hospitality sector and signals the start of a new era for this landmark property,” said BTA CEO Kevin Dallas. “The acquisition and any resulting enhancements at the Fairmont Southampton resort will benefit the hotel, drive eventual growth in our group-sales sector, and strengthen the overall quality of Bermuda’s tourism product as we revitalize this industry to keep the island competitive. The Bermuda Tourism Authority looks forward to working with all parties involved to build on the hotel’s success towards an exciting future.”

 

The Seller, AccorInvest, is both owner and operator of a portfolio of more than 850 hotels, owned and leased, located in 26 countries in Europe, Latin America and Asia. The Group invests in order to consolidate its portfolio through hotel renovations and new hotel developments in Europe on economy & midscale segments.

 

 

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 hospitality with further emphasis on the luxury, mixed-use sector as well as related operating platform investments. 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, including Gencom American Hospitality, Summerfield Suites, Carnival Resorts and Interstate Hotels. Gencom companies’ successful track record has led to significant ventures with prominent institutional investors, prominent family groups and other strategic partners both domestically and internationally. For more information about Gencom, please visit www.gencomgrp.com.

GENCOM ANNOUNCES FLORIDA PORTFOLIO ACQUISITION

                                          

Gencom-led Partnership Acquires Two St. Petersburg Beach Resorts

Miami, Florida, January 3, 2019. As part of its ongoing strategy to acquire unique hospitality assets anchored by strong underlying real estate and with unique repositioning opportunity, a Gencom-led partnership has announced the acquisition of two resort assets situated along St. Petersburg Beach, Florida, The Beachcomber Beach Resort and Hotel and The Grand Plaza Beach Hotel & Beach Resort were acquired at a reported purchase price of $100 million. The partnership will commit an additional $24 million for major renovations to upgrade and rebrand the two properties.

While both assets will initially remain independent and unbranded, BENCHMARK®, a global hospitality company, has been retained to manage and reposition two properties on St. Pete Beach, a resort island off the coast of St. Petersburg in Tampa Bay and within the heart of Florida’s popular Gulf Coast. Gencom and Benchmark forged a strategic management partnership in 2016.

“The purchase of the two St. Pete Beach properties represents a continuation of our firm’s strategy to seek out profitable hospitality investments in locations with strong market fundamentals and opportunities to create value through active management and repositioning,” said Alessandro Colantonio, Gencom’s executive vice president Acquisitions & Capital Markets. “Benchmark’s experience in every aspect of hotel management and marketing and its pioneering role in the development of experiential travel will enable us to maximize these assets through a far-sighted renovation program and productive reorganization.”

Gencom’s Miami-based acquisition and capital markets group led the sourcing, underwriting and closing of the acquisition which included securing equity co-investment and placement of acquisition financing. Post-closing, Gencom’s asset management team will work closely with Benchmark to oversee the planned renovation and repositioning initiatives.

“Gencom is excited to add these properties to its portfolio and to expand our strategy with Benchmark,” said Karim Alibhai, Gencom’s founder and principal. “We continue to be bullish in hospitality, for the right opportunities, and we were driven by the positive market trends and underlying real estate characteristics of these assets.”.

The high-rise Grand Plaza Beach Hotel & Beach Resort offers 156 rooms and four food and beverage outlets, while the Beachcomber Beach Resort and Hotel consists of 102 rooms and two restaurants, including the award-winning Jimmy B’s Beach Bar and Grill.

Holliday Fenoglio Fowler, L.P. (“HFF”) represented the sale of the assets through its Tampa office.

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, including Gencom American Hospitality, Patriot American Hospitality, Carnival Resorts and Interstate Hotels.  Gencom companies’ successful track record has led to significant ventures with prominent institutional investors, prominent family groups and other strategic partners both domestically and internationally.  For more information about Gencom, please visit www.gencomgrp.com.

About BENCHMARK®, a global hospitality company.

BENCHMARK®, a global hospitality company, is a leader in the development, management, and marketing of independent, soft branded, and experiential hard branded resorts, hotels, and conference centers.  In addition to the company’s award-winning full service Benchmark Resorts & Hotels, its lifestyle and luxury Gemstone Collection, and its industry-leading Benchmark Conference Center division, etc.venues is a leading provider of contemporary city centre venues for meetings, signature events, and conferences. BENCHMARK’s combined portfolio features more than 80 unique projects across three continents. The company is passionately committed to delivering personal, inspiring, and memory-making experiences, driving total revenue and profitability, and cultivating an award winning, “Be The Difference” culture for all its employees.  BENCHMARK, is based in The Woodlands (Houston), Texas, with offices in London, England; Miami, Florida; Park City, Utah; Scottsdale, Arizona; New Brunswick, New Jersey; Seattle, Washington; and Tokyo, Japan. www.benchmarkglobalhospitality.com To become a fan on Facebook, visit www.facebook.com/BenchmarkResortsandHotels, www.facebook.com/GemstoneHotelCollection. Follow us on Twitter at www.twitter.com/BenchmarkHotels, www.twitter.com/GemstoneHotels , on Instagram at www.instagram.com/benchmarkresortsandhotels, www.instagram.com/gemstonehotels, and on Pinterest at www.pinterest.com/benchmarkhotels/gemstone-hotels. At LinkedIn, https://www.linkedin.com/company/benchmark-a-global-hospitality-company/

Contact:

For direct Gencom inquiries:
Gencom
Alessandro E. Colantonio
EVP – Acquisitions & Capital Markets
305.416.6870
acolantonio@gencomgrp.com

News Release

BENCHMARK®, A Global Hospitality Company, Makes Strategic Investment in UK’s etc.venues

 

Investment Expands Benchmark’s Reach to over 80 locations Across Three Continents

The Woodlands (Houston), Texas, June 4, 2018 … BENCHMARK®, a global hospitality company, and its capital partner, Gencom, have made a strategic investment in the UK-based etc.venues, a pioneering non-residential day meetings company with 15 properties in London, Birmingham and Manchester. The move and positioning significantly increases Benchmark’s global footprint and creates exceptional opportunities for international expansion for both companies.

The partnership means that Benchmark will now operate across three continents, with a total of 80 properties in North America, the Caribbean, Japan and the United Kingdom. Recognized in the UK and on the international stage as an award-winning and particularly innovative training and events firm, etc.venues will complement Benchmark’s four hospitality services brands:  Benchmark Resorts & Hotels, Gemstone Collection, Benchmark Conference Centers and the Benchmark Owner Advisory Group.

“The combination of hospitality and award-winning workplace services, spanning three continents and focused on hotel and office real estate investments, is truly unique in the industry,” according to Benchmark’s CEO Alex Cabañas. “Benchmark’s leadership in group sales and in delivering exceptional meeting experiences aligns perfectly with etc.venues’ sophisticated meetings and events space in the UK market.”

etc.venues’ facilities, strategically located in key business districts around London and in the commercial centers of Birmingham and Manchester, are known for stylish contemporary design, technical expertise, outstanding business services and premier food and beverage focus.

Investment and transaction structuring efforts were led by Benchmark’s capital partner, Miami-based Gencom. Gencom led an investment consortium, which included an investment fund managed by Colony Northstar as corporate preferred equity provider.  “The investment in etc.venues is consistent with Gencom’s strategy to grow the Benchmark platform and position the company for dynamic and global growth not only through operations management but also through a dedicated real estate investment platform,” said Karim Alibhai, Principal of Gencom. “Gencom will continue to explore opportunities in the real estate markets as a result of this transaction and will look to align itself with strategic investment partners on both single-asset and programmatic basis,” Mr. Alibhai added.

The new collaboration will spur the global expansion of Benchmark and etc.venues in urban and destination sites within Europe and the United States, notes Alastair Stewart, managing director of etc.venues. “This is a winning combination. Benchmark will be perfectly positioned to pursue hotel management business in Europe, while etc.venues will have the financial, sales & marketing and operational support it needs to establish new venues in the US.”

“US expansion of etc.venues is a key part of the strategy,” says Mr. Cabañas. ”Benchmark is evaluating gateway cities such as New York, Chicago, Los Angeles and others.  We will look to further growth opportunities in Europe for our management, operational and asset management services.”

Benchmark’s interest in the etc.venues business is rooted in a long history of leadership and strategic opportunity in the conference center and corporate real estate services space. Both CEOs are well-acquainted through their involvement with IACC, formerly known as the International Association of Conference Centres.

Several important trends in both travel and real estate influenced this new partnership. Consumer preferences are trending towards experiential travel, on demand services/amenities, and shared/collaborative spaces. As office buildings and commercial real estate evolve with “guest-centric, hotel-like” services, this mixed-use platform aims to attract real estate owners and managers looking for a diverse-portfolio, one-stop-shop operator. Conference planners and potential hotel owners will also find many new options and advantages.

“Consequently, career opportunities for our teams will be enhanced,” says Alex Cabañas. He highlights that both Benchmark and etc.venues are committed to employee engagement and development and to strong programs of community involvement at every property. “Culturally, operationally and sales & marketing-wise, Benchmark and etc.venues are a perfect fit.”

 

Photography Link Here: https://www.dropbox.com/sh/hetaiobf6qmpdkv/AACYTXYP-fFuJjo4QVedBPlya?dl=0

 

About etc.venues

etc.venues is a leading provider of contemporary city centre non-residential venues.  It has 15 UK venues and specialises in the conference, meetings, training & events market, hosting 750,000 delegates a year at 17,000 events in over 250 rooms. In 2017 it opened 68,000sqft of conference and event space at London’s iconic, listed riverside venue County Hall, and opened its first Manchester venue.

About BENCHMARK®, a global hospitality company

BENCHMARK®, a global hospitality company, is a trailblazer in the development, management, marketing and owner-advisory services of resorts, hotels, conference centers and exclusive private clubs. In addition to the company’s iconic Benchmark Resorts & Hotels portfolio, the Gemstone Collection is a distinctive luxury portfolio of independent hotels & resorts in highly preferred destinations.  BENCHMARK’S distinguished and proven reputation is deeply-rooted in core values that are focused and aligned with exceeding ownership and stakeholder performance expectations. The combined portfolios feature nearly 70 unique and distinctive properties domestically and internationally. The company leadership and valued employees are passionately committed to delivering the industry’s most authentic, enchanted, soulful, vibrant, unrivaled and memory-making experience.  BENCHMARK’S progressive “Be The Difference” culture and values are a cornerstone to the company’s nearly 40 years of extraordinary achievement and prosperity. Many properties have been recognized with the Benchmark Conference Centers® mark of meeting excellence.  BENCHMARK, a global hospitality company, is based in The Woodlands (Houston), Texas, and has regional offices in Park City, Utah; Miami, Florida; New Brunswick, New Jersey; Seattle Washington; and Tokyo, Japan.   www.benchmarkglobalhospitality.com To become a fan on Facebook, visit www.facebook.com/BenchmarkResortsandHotels,  www.facebook.com/GemstoneHotelCollection.  Follow us on Twitter at www.twitter.com/BenchmarkHotels, www.twitter.com/GemstoneHotels , on Instagram at www.instagram.com/benchmarkresortsandhotels, www.instagram.com/gemstonehotels, and on Pinterest at https://www.pinterest.com/benchmarkhotels/gemstone-hotels .  At LinkedIn,  www.linkedin.com/company/benchmark-hospitality.

News Release

GENCOM UNVEILS $25 MILLION RENOVATION OF ROSEWOOD BERMUDA

Gencom, a leading Miami-based investment firm that invests in high end hospitality and residential real estate globally, today unveils the $25 million extensive renovation of the ultra-luxury Rosewood Bermuda, located in Tucker’s Point. The renovation comes on the heels of Gencom’s successful acquisition of the renowned property in May 2017.  The investment further underscores the firm’s steadfast commitment to the long-term growth of the island’s tourism and hospitality sector, complementing Bermuda’s strong tourism economy and visitation, as well as Bermuda Tourism Authority’s strategy to reintroduce the island as a contemporary, multi-generational destination. Bermuda benefits from direct flight access from Europe and the eastern coast of the US, making it a natural destination for international travelers in search of an island destination offering unparalleled luxury accommodations.

Gracing approximately 240 acres of the most beautiful waterfront master development in Bermuda and neighboring the impressive estates of Tucker’s Town, the modernized resort features 88 elevated guestrooms; a redesigned lobby; an enhanced Beach Club; an upgraded Golf Clubhouse; reimagined dining outlets; a vibrant new bar that is a popular gathering spot for locals, resort guests and the private member’s club alike; and a revitalized spa with new wellness and fitness offerings.

“Bermuda is experiencing a tourism renaissance, and we are pleased to help support the island’s revitalization by providing an unparalleled resort destination for discerning international travelers,” said Karim Alibhai, founder and principal of Gencom.   “We are excited to partner with Rosewood Hotels & Resorts to re-set the bar for luxury travel on the island.”

The resort’s redesign seamlessly combines the elegance of the island’s colonial English heritage with the vibrancy of its native culture for a unique and authentic Bermudian experience. The design of the guestrooms and suites, lobby and new lobby bar were led by Dawson Design Associates.  London-based designer, Alexander Waterworth Interiors Ltd., was responsible for the redesign of the resort’s signature restaurant and bar, Beach Club and Golf Clubhouse.

“The renovation is a testament to Rosewood Bermuda’s commitment to providing unmatched luxury accommodations, the highest level of service, and modern amenities that appeal to today’s luxury, global travelers,” said Paul Telford, managing director of Rosewood Bermuda.

Lobby

Upon arrival, guests are welcomed into an elegant and intimate lobby, more akin to a private manor house than a resort. Rosewood Bermuda’s 88 guestrooms and suites have been transformed into intimate, residential-style retreats, featuring bespoke furniture, contemporary local art and a soft color palate punctuated with azure blue accents.

The all-new Conservatory Bar and Lounge is a popular gathering space for resort guests, the private member’s club and locals where they can enjoy hand-crafted British gin cocktails and spirits enhanced by fresh herbs, house-made infusions and the latest mixology techniques.  With its twin fireplaces, black and white hand-painted tile floor and elegant beamed ceilings, the new bar is a fusion of both old and new.  Boasting local art, casual and inviting décor and relaxed, friendly Bermudian service, the bar is complemented by the intimacy of the new courtyard, which brings a rustic accent to the space.

New Culinary Concepts and Cocktail Destinations

Rosewood Bermuda’s existing culinary venues have been re-conceptualized to provide elevated dining experiences that celebrate local ingredients and serve Bermudian-inspired cuisine in contemporary settings:

• The resort’s signature restaurant, now known as the Island Brasserie, is a vibrant and informal space serving elevated island comfort food. The adjacent Tucker’s Bar has transformed into a rum bar dedicated to teaching guests about the history of the island’s signature spirit.
• Inspired by Bermuda’s bustling fish markets, the reimagined Beach Club restaurant boasts imaginative, island-inspired cocktails and a menu of fresh, locally-sourced seafood dishes.
• Sul Verde, the Golf Clubhouse restaurant, offers an authentic Italian menu and warm, convivial atmosphere. The Grille Room has also undergone a full refresh.

Elevated Beach Club

Located on Bermuda’s largest private, pink sand beach, the refreshed Beach Club continues to be the ultimate destination for sun-soaked relaxation.  In addition to the reimagined Beach Club restaurant, enhancements include chic new cabanas, umbrellas, pool and beach furniture, and expanded luxury services and amenities

Golf

The Tucker’s Point Golf Clubhouse features updated décor and new, state-of-the-art amenities that take the golf experience to the next level and further the sense of community amongst the members and the resort guests.

Cliff Drysdale Tennis

In partnership with Cliff Drysdale Tennis, one of the world’s most esteemed tennis management companies, Rosewood Bermuda is launching a comprehensive new tennis program. Under a dedicated, Cliff Drysdale trained tennis director, Cliff Drysdale’s signature tennis programs, leagues, and events will be offered to guests and members.

Enriched Heath & Wellness Experiences

To further enhance Rosewood Bermuda’s health and wellness offerings, the property now features a modernized 12,000 square-foot Sense®, A Rosewood Spa. In conjunction with the renovation, the resort has also appointed a new spa director who has seamlessly integrated the essence of the island into a series of new health and wellness experiences.  Additionally, an upgraded fitness center boasts brand new Technogym equipment and a variety of new fitness programs.

New Children’s Program

To complement the refreshed kid’s club and children’s pool, Rosewood Bermuda introduces Rosewood Explorers, a new children’s program designed to inspire creativity and a passion for learning through a series of immersive workshops, classes and journeys.

New Real Estate Offerings

For visitors who are looking to make Tucker’s Point a permanent or vaction home base, Tucker’s Point Real Estate is offering fully renovated fractional units branded as the Tucker’s Point Private Residence Club and residential developable lots, including ocean front lots and lots oriented towards the golf course for luxury home development.

To make reservations at Rosewood Bermuda, call +1.441.298.4000 or book online at https://www.rosewoodhotels.com/en/bermuda.

About Rosewood Bermuda

A destination in itself, Rosewood Bermuda is the centerpiece of Tucker’s Point, Bermuda’s premier resort, golf and beach club and residential community. Gracing 240 of the most beautiful coastal acres on the island, the award-winning, tropical hideaway neighbors the estates of Tucker’s Town and offers breathtaking vistas of Castle Harbour, Harrington Sound and the Atlantic Ocean.  With just 88 rooms and suites, guests feel they are part of an elite club with exclusive access to the largest private pink-sand beach on Bermuda as well as the island’s finest amenities. The resort features five distinct restaurants and bars including the new Conservatory Bar, Island Brasserie, Tucker’s Bar, Sul Verde and the Beach Club Restaurant.  Additional amenities and recreational facilities include a 12,000 square foot Sense®, A Rosewood Spa, state-of-the-art fitness center, the Beach Club, Golf Clubhouse, dive and water sports center, tennis courts, croquet lawn and four pools.

Visit https://www.rosewoodhotels.com/en/bermuda for additional information or follow the latest news through the hotel’s social media channels on Twitter & Instagram @RosewoodBermuda or on facebook.com/rosewoodbermuda.

Second Resort Purchase within 1,400-Acre Peninsula Papagayo Underscores U.S. Investment Firm’s Vision Toward Major Transformation of Latin America’s Premier Resort and Residential Destination.

MIAMI–(BUSINESS WIRE)–Gencom, a leading Miami-based international luxury hospitality and residential real estate investment and development firm, today announces the acquisition of Andaz Costa Rica Resort at Peninsula Papagayo by a Gencom affiliate, Papagayo Partners Ltd., in conjunction with local real estate developer Sinergo Development Group S.A. Following the August 2016 purchase of the 1,400-acre Peninsula Papagayo and Four Seasons Resort Costa Rica, this marks the second resort investment for the new ownership guided by Gencom on Peninsula Papagayo, a premier resort and residential destination in the Guanacaste province of northwest Costa Rica. The acquisition of Andaz Costa Rica Resort at Peninsula Papagayo also signals the ownership group’s steadfast, continued commitment toward a major transformation and preservation of Peninsula Papagayo. Key developments include new capital improvements to Andaz Costa Rica Resort at Peninsula Papagayo plus a major renovation of Four Seasons Resort Costa Rica as announced in July 2017 along with new peninsula-wide amenities, enhancements and first-ever experiences designed to connect and celebrate the peninsula as a unified destination a world apart. (Full Press Release link below)

http://www.businesswire.com/news/home/20171004005314/en/Gencom-Led-Ownership-Acquires-Andaz-Costa-Rica-Resort

By: Raymond Hainey

Bermuda’s new airport was a “game changer” in a decision to buy the luxury Rosewood Tucker’s Point hotel, the new owner said.

Karim Alibhai, head of Miami-based international hotel company Gencom, said the airport was a major factor in the decision to buy the resort, which went into receivership in 2013 and was put on the market two years ago.

Mr Alibhai said: “Once the new airport opens that should definitely be a big game changer.”

He added: “It was quite important — airlift is a very important part of our business. We’ve seen businesses conceived very, very well but they have not taken account of good airlift.

“We also see Bermuda as a market that can be expanded — what we are doing is expanding the market to other parts of the US as they get to know Bermuda is a great destination.”

Mr Alibhai said: “Until two years ago, it was our perception that Bermuda had seen its best years.”

But he added that a combination of factors, including the work of government and the Bermuda Tourism Authority, which had “a positive impact” on the tourism business, had changed Gencom’s view.

Mr Alibhai said the firm planned to invest $25 million in a major revamp of Tucker’s Point — with further development in the future. The hotel will be closed for three months from the start of next year for renovations and will reopen in April with the new name of Rosewood Bermuda.

Mr Alibhai added: “When we looked at the different things that were being planned, we could come in, make the investment and get what we and our investors need to make a return.”

The 53-year-old businessman started his hotel empire with just one property — a two star Best Western hotel in Houston, Texas bought when he was aged just 19.

He founded Gencom 30 years ago and the group now has a total of 75 properties in its portfolio, some managed by Gencom’s affiliate Benchmark Global Hospitality and which includes hotels in North America, Latin America, Europe and the Caribbean.

The group includes four-star resorts and conference centres.

Mr Alibhai said: “We were looking for situations with opportunities. What drew us into Bermuda? It’s a combination of things that got us attracted.

“A lot of our business plan is acquiring businesses that are depressed, investing in them and making them successful.

“We saw here a project with all the elements to be successful but one that got caught up in a combination of the financial crisis and an overspend when it was constructed.

“But, at the same time, under the right ownership, it’s a hotel with the potential to be very successful.”

Mr Alibhai added that the America’s Cup, although “it did not drive as much business to the hotels as expected” it was a marketing triumph.

He said: “As far as the publicity goes, I think that’s huge. It reminded people this is a great destination — I’m pleased with the marketing impact.

“It’s a sizeable investment to make in Bermuda, but that’s because we really feel the potential is there.

“Short term, we see the demand begin to grow as the BTA does its marketing and we do our marketing.”

Mr Alibhai said he welcomed plans to bring other major hotel brands to the island, like Ritz Carton at the new Caroline Bay resort at Morgan’s Point in Southampton.

He explained: “We don’t look at that as competition — that’s a positive aspect. It will expand the airlift and have passengers coming in.

“We’re very excited about being in Bermuda and our future.”