Dive Brief:
- Investment firm Gencom has acquired the 253-key Ritz-Carlton New York, Central Park hotel in Midtown Manhattan, according to a release obtained by Hotel Dive. Westbrook Partners and Korea Investment Corp. were the sellers, Gencom told Hotel Dive, though the firm declined to share financial terms of the transaction.
- Located at the corner of Central Park South and Sixth Avenue, the luxury hotel’s 253 guest rooms each offer panoramic views of Central Park and the Midtown skyline, according to Gencom. The hotel is home to all-day gastro lounge Contour, a signature Ritz-Carlton Club Lounge and the La Prairie Spa.
- The transaction marks Gencom’s third luxury hotel acquisition in New York City in the last 16 months. The firm sees “compelling long-term opportunities” in the market, according to Gencom founder Karim Alibhai.
Dive Insight:
The acquisition builds upon Gencom’s luxury hotel portfolio in New York, which includes Thompson Central Park and InterContinental New York Times Square.
Miami-based Gencom acquired the Thompson property in 2024 for roughly $300 million. The firm purchased the InterContinental in December for a reported $230 million alongside Argent Ventures and hotel management company Highgate.
This latest acquisition further strengthens Gencom’s position “in one of the world’s leading hospitality markets,” Alibhai said in the release. “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.
Manhattan’s luxury hotels outperformed those in other segments in the first half of 2025, PwC reported. Nationwide, wealthy travelers insulated from inflationary and other cost pressures are driving spending, in turn boosting the luxury hospitality segment, experts have said.
As high-net-worth wealth continues to expand in 2026, investors will focus on luxury hotel acquisition, Kevin Davis, Americas CEO for JLL’s Hotels & Hospitality Group, previously told Hotel Dive.
For Gencom, the New York Ritz-Carlton exemplifies the standards of excellence that guide its investment strategy, Chief Investment Officer Alessandro Colantonio said in the release. The firm also recently acquired Ritz-Carlton properties in Miami and New Orleans.
Gencom’s hospitality portfolio spans luxury brands including Four Seasons, St. Regis, Rosewood, Fairmont and Auberge Resorts.
