Affiliates of Miami-based Gencom have reacquired a majority interest in the 115-room The Ritz-Carlton Coconut Grove, Miami. The transaction was announced on Dec. 23, 2025. Gencom is a U.S.-based investment firm with a portfolio that includes real estate ownership, operations and development.
A Gencom-led joint venture originally acquired the hotel in 2011 and sold a majority stake in the property to Hersha Hospitality Trust in 2017. The newly completed transaction returns majority ownership of the asset to Gencom affiliates. Financing for the acquisition was provided by Banco Inbursa. The purchase price was not disclosed.
“The Ritz-Carlton Coconut Grove has always been a special property for Gencom, reflected by our history with the asset and Coconut Grove’s timeless appeal,” said Karim Alibhai, founder of Gencom. “Reacquiring a majority stake aligns with our strategy of investing in high-quality assets in markets with strong fundamentals. We see significant opportunity to build on the property’s legacy and exceptional brand by creating value through disciplined investment and asset management.”
The Ritz-Carlton Coconut Grove opened in 2002 and is located in the Coconut Grove neighborhood of Miami. The 21-story hotel includes 115 guestrooms and approximately 30,000 square feet of indoor and outdoor meeting space. Additional facilities include a swimming pool, a poolside restaurant, a spa and salon and a fitness center. The most recent renovation was completed in 2018 and included updates to guestrooms and suites, the lobby, the swimming pool and food and beverage venues. The renovation resulted in the opening of Isabelle’s Coconut Grove and The Commodore cocktail bar.
“This acquisition reflects our long-term conviction in Miami’s lodging fundamentals and the sustained strength of its local economy,” said Alessandro Colantonio, CIO at Gencom. “Having previously owned The Ritz-Carlton Coconut Grove, we recognize the enduring value of the asset and the importance of Coconut Grove as one of Miami’s most established and in-demand submarkets for both leisure and business travel. Regaining a majority ownership in this iconic property enables us to further scale our hospitality platform in Miami, one of North America’s most compelling and resilient tourism markets.”
Coconut Grove is a waterfront neighborhood that has experienced growth and redevelopment in recent years. The area has seen the addition of Class A office buildings and the revitalization of Cocowalk, its central lifestyle destination. These developments have introduced new restaurants, retail spaces and entertainment venues, along with new residential and hospitality projects.
Gencom maintains a broader presence in Miami through other investments. These include the Ritz-Carlton Key Biscayne, Miami, which recently reopened following a $100 million renovation, and Miami Riverbridge, a privately funded mixed-use development planned along the Miami River. The firm’s hotel portfolio also includes properties under several Marriott brands and other luxury hospitality flags across multiple U.S. markets.