Gencom

Costa Rica’s ‘Pura Vida’ ethos has long captured international attention for its unique balance between relaxation and tropical adventure. As such, hospitality brands have doubled down on the region, with luxury hospitality flags spanning the country to meet the heightened demand for high-end accommodations. While inventory continues to grow, three Gencom properties - Four Seasons Hotels and Resorts Peninsula Papagayo; Hacienda AltaGracia, Auberge Resorts Collection; and Hyatt Hotels Corporation Andaz Papagayo – consistently deliver unparalleled lodging options for visitors. ELLE Decor details the top luxury hotels in Costa Rica here: https://bit.ly/4cJjgdj

Gencom has successfully closed on $550 million of recapitalization and redevelopment financing for the Fairmont Southampton, Bermuda’s largest resort. This significant investment underscores Gencom’s commitment to the country’s hospitality sector, complementing the Rosewood Bermuda hotel in its portfolio.   The financing will support a comprehensive renovation aimed at modernizing guest accommodations, upgrading dining options, and enhancing event spaces, with plans to reopen the resort in early 2026.   “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.”   To read more about this transaction, check out Hotel Investment Today’s latest article:

Gencom continues to make significant investments in key hospitality markets, most recently with the acquisition of the Thompson Central Park Hotel in New York City.    The transaction marks Gencom’s debut into the Big Apple and is the Miami-based investment and development firm’s first Thompson Hotels-branded property in its $8 billion portfolio.    The Thompson Central Park Hotel will continue to be operated by Hyatt Hotels Corporation, further strengthening Gencom’s strong relationship with the hospitality company. The partnership is also redeveloping Downtown Miami's iconic Hyatt Regency and acquired and renovated the ANdAZ Costa Rica Resort at Peninsula Papagayo together. As the New York City hospitality market continues to recover, Gencom’s Chief Investment Officer Alessandro E. Colantonio comments, “We believe there is still substantial runway for revenue growth as the city rebounds from the pandemic and the competitive landscape shifts.”   This acquisition follows a broader trend of strategic investments by Gencom, aligning with its focus on acquiring high-quality assets in top-tier markets.   To read more about this transaction, check out Hotel Investment Today's latest article:

According to JLL’s H1 2024 U.S. Hotel Investment Trends report, hotel RevPAR remained “robust” with urban markets in particular, showing promise for growth. More than 20 U.S. cities saw a full recovery of group business performance compared to pre-pandemic levels in the fourth quarter of 2023 which supported several hotel companies’ revenue gains in the second quarter of this year. Jenna Walters dives into the top trends shaping the U.S. hospitality industry in her latest for Hotel Dive: https://bit.ly/3yRwTt8

Gencom and Hyatt Hotels Corporation’s mixed-use Miami Riverbridge development in #DowntownMiami will revive the riverfront on the Miami River with 50,000 square feet of new public green space. The project will complete a key portion of the long-anticipated Miami Riverwalk, creating a waterside promenade spanning more than 480 feet in length. These improvements will create seamless connectivity between Biscayne Bay and Bayfront Park to the east, as well as to the Metromover’s Riverwalk station to the west.

The 1,400-acre resort community of Peninsula Papagayo prioritizes sustainability, complete with a committee structure made up of six different entities focused on protecting the surrounding ecosystem that distinguishes the region. Initiatives range from a childcare clinic to conservation of archaeological sites. Resorts located in the area, such as Gencom’s Four Seasons Hotels and Resorts Peninsula Papagayo, are engaged in these endeavors through partnering with the local community to source produce for their restaurants, among other practices. As a result, Vogue has named Peninsula Papagayo one of the best destinations for sustainable travel: https://bit.ly/3RRfk2J

Meet Kenda Bailey, Gencom’s Senior Vice President of Design & Procurement. Throughout her 16 year career at Gencom, Kenda has overseen both new development and continual renovations of Gencom’s luxury portfolio, which includes Ritz-Carlton, Four Seasons Hotels and Resorts and Rosewood Hotel Group brands. Prior to joining Gencom, Kenda held various positions in the field, in addition to project management, as well as budgeting and accounting for owners, developers, architects and interior designers.

Property Spotlight: The St. Regis Chicago Last year, a joint venture between Gencom and GD Holdings acquired the newly constructed, 192-key St. Regis Chicago, centrally located in the city’s Lakeshore East Loop community of Chicago. The 5-star hotel is the first new luxury hotel to open in Downtown Chicago in over a decade. In addition to spacious rooms and suites, the hotel features nearly 12,000 square feet of meeting space, including the 5,000-square-foot Astor ballroom, and 7,000 square feet of executive function rooms with magnificent and one-of-a-kind views of the city’s timeless landmarks, including the Magnificent Mile, Navy Pier, Grant and Millennium Parks. Boasting over 21,000 square feet of luxurious amenities including the exquisite St. Regis Spa, state-of-the-art fitness center with yoga and group exercise rooms, rooftop terrace, and indoor swimming pool, all of which are accessible from both the hotel and the 393-residence condominium component

Late last year, Gencom and Mohari Hospitality completed a multi-million-dollar refresh on the Four Seasons Hotels and Resorts Peninsula Papagayo, a cornerstone coastal retreat that has been catering to guests for over 20 years. Located on the exclusive Peninsula Papagayo, also known as the Golden Coast of Costa Rica, the 120-acre resort offers the perfect blend of natural beauty, luxury, and sustainability. The resort's transformation introduces the Virador Beach Club, a Wellness Shala, an immersive transformation of the fun-filled children’s educational program Kids For All Seasons, and a sustainable renovation of the Arnold Palmer Signature Golf course. Travel Leisure details the additions in its latest: https://bit.ly/3YyO39s

According to data from CoStar Group, hotel transactions continue to actualize across the country, even amidst challenging capital markets. So far this year, Gencom’s move to retake majority ownership of the iconic The Ritz-Carlton Hotel Company, L.L.C. Key Biscayne in January makes it the top deal by price per room. The Arizona Biltmore, which was recently added to Gencom affiliate, Pyramid Global Hospitality’s portfolio, sold for $705M in May – resulting in one of the largest overall hotel transactions of the year thus far.   Check out the full list via Hotel Investment Today: https://bit.ly/3WPS3Bd