Gencom

Gencom’s recently acquired property, Thompson Central Park New York, has been ranked #11 in Condé Nast Traveler 2024 Reader’s Choice Awards, distinguishing it as one of the top hotels in New York City. Located just a few blocks from Central Park, this elegantly designed mid-century modern hotel boasts unique elements, such as exquisite wood accents and sculptural lighting. Guests can indulge in deluxe accommodations on the upper floors, which feature a private cocktail lounge and exclusive access to premium entertainment and wellness amenities. Thompson Central Park continues to set a new standard for luxury and service in the heart of Midtown, offering an unparalleled experience for discerning travelers. The Condé Nast Traveler Reader’s Choice Awards are among the most respected accolades in the travel industry, reflecting the opinions of millions of enthusiastic travelers. For more insights, read the full article on Condé Nast Traveler: Condé Nast Traveler Reader’s Choice Awards. https://bit.ly/2QJaum2

The Gencom team wants to congratulate founder and principal, Karim Alibhai, for being recognized as one of Florida Trend’s 500 Most Influential Business Leaders in 2024 in the Hospitality and Tourism category. This prestigious honor reflects not only Karim's leadership but also his significant impact on the overall real estate industry and community. Featured alongside other top executives from across the state, this accolade highlights his dedication and contributions to advancing the real estate industry and hospitality sector. Read more about this recognition via: https://bit.ly/4hn7SHQ

Gencom recently had the privilege of participating in an exclusive event hosted by BofA Securities. The evening began with a thought-provoking fireside chat featuring our CEO Karim Alibhai, alongside Sean McGould, CEO & CIO of Lighthouse Investment Partners, LLC, and moderated by Seta Kiremidjian, Managing Director at BofA Securities. The discussion provided valuable insights into industry trends and the future of investment strategies for the audience of business leaders in attendance. “Gencom is well-positioned to seize new opportunities alongside its trusted partners. We are opportunistic and selective when acquiring properties, and we excel in completing complex transactions. The firm has endured market cycles and earned loyalty among long-time partners and brands by being patient, proactive, flexible and focused on performance, resulting in a well-capitalized firm, with a robust pipeline of investment opportunities around the world, across several real estate asset classes.” We thank BofA Securities for the invitation to participate and for bringing together all these bright minds to share their unique perspectives, strategic approach and comprehensive outlook.

Meet John F. Hogan, AIA LEED-AP, Gencom’s Senior Vice President of Architecture & Construction. With more than 25 years of design and construction experience, John has worked on branding hotels, leading teams and overseeing projects in over 50 countries. At Gencom, John is responsible for development initiatives such as acquisition due diligence, new hotel development, renovations, and capital expenditures. Prior to joining Gencom, John held varying leadership positions at Marriott International, including leading Ritz-Carlton Design and Project Management worldwide and Full-Service Hotels in the Americas. John is a LEED Accredited Professional and member of The American Institute of Architects (AIA).

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