Gencom Reacquires Majority Stake in The Ritz-Carlton Coconut Grove
- Jan 15
- 2 min read
An affiliate of Miami-based investment firm Gencom has reacquired a majority interest in The Ritz-Carlton Coconut Grove, returning the luxury hotel to Gencom-led ownership more than a decade after its initial acquisition.
The 115-room hotel, located in Miami’s Coconut Grove neighborhood, was originally acquired by a Gencom-led joint venture in 2011. A majority stake was sold to Hersha Hospitality Trust in 2017. The latest transaction was financed by Banco Inbursa for an undisclosed amount.
Gencom founder Karim Alibhai said the decision reflects the firm’s long-standing connection to the property and its broader investment strategy focused on established markets. The firm plans to build on the hotel’s existing operations through continued asset management and investment.
Opened in 2002, The Ritz-Carlton Coconut Grove includes meeting and event space, a pool, spa and salon, fitness center, and dining venues. The property underwent a renovation in 2018 that updated guestrooms, public areas, and food and beverage spaces, leading to the opening of Isabelle’s Coconut Grove and The Commodore cocktail bar. More information about the hotel is available through The Ritz-Carlton Coconut Grove website.
Gencom Chief Investment Officer Alessandro Colantonio said the acquisition aligns with the firm’s outlook on Miami’s hospitality sector and Coconut Grove’s role as a key submarket for both leisure and business travel.
Coconut Grove has seen continued development in recent years, including new office buildings, residential projects, and the revitalization of Cocowalk, which added restaurants, retail, and entertainment. The neighborhood has become a mixed-use district attracting residents, visitors, and businesses.
Gencom’s Miami portfolio also includes the recently renovated Ritz-Carlton Key Biscayne and the planned Miami Riverbridge mixed-use development. Additional details on the firm’s holdings are available through Gencom.