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.
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