Gencom, a leading real estate investment and development firm based in Miami, has announced the acquisition of a significant two-hotel portfolio located in the renowned French Quarter of New Orleans, Louisiana

Gencom, a leading real estate investment and development firm based in Miami, has announced the acquisition of a significant two-hotel portfolio located in the renowned French Quarter of New Orleans, Louisiana. The portfolio includes two prominent properties: The Ritz-Carlton New Orleans and the Courtyard New Orleans French Quarter/Iberville. Together, the two hotels offer a combined total of 758 rooms, making this acquisition a notable expansion for the Miami-based firm.

Led by founder and principal Karim Alibhai, Gencom is recognized for its strategic investments in the global hospitality sector, particularly in high-demand urban locations. The purchase of these two hotels is in line with the firm’s long-term strategy of expanding its footprint in major cities with a thriving tourism market, and New Orleans—famous for its vibrant culture, music, and events like Mardi Gras—is one of the most sought-after destinations in the United States.

The Ritz-Carlton New Orleans: A Luxurious Destination in the Heart of the French Quarter

The Ritz-Carlton New Orleans, located on Canal Street, is one of the most prestigious hotels in the city, offering 528 elegantly appointed rooms and suites. The hotel is not only a luxury accommodation but also an event destination, with over 48,000 square feet of meeting and event space, making it a prime location for conferences, weddings, and other high-profile gatherings. Additionally, The Ritz-Carlton boasts a state-of-the-art fitness center, an indoor pool, and a stunning 25,000-square-foot spa—the largest in New Orleans.

This hotel has undergone extensive renovations in recent years, ensuring that it remains one of the premier properties in the city. Among the notable improvements is the $15 million refurbishment of its Maison Orleans Club Level, a premium space for guests seeking exclusive experiences and enhanced amenities. These renovations not only upgraded the guest rooms but also enhanced the public areas to provide a more contemporary and luxurious environment for visitors.

Courtyard New Orleans French Quarter/Iberville: A Modern Hub for Business and Leisure

Adjacent to The Ritz-Carlton, the Courtyard New Orleans French Quarter/Iberville offers 230 rooms and provides guests with a modern, comfortable stay in a prime location near key attractions such as Bourbon Street, the Caesars Superdome, and the Ernest N. Morial Convention Center. This makes it an ideal choice for both business and leisure travelers who wish to explore the vibrant neighborhood and partake in New Orleans’ bustling entertainment scene.

Similar to The Ritz-Carlton, the Courtyard hotel has recently undergone a comprehensive renovation. The entire property, including guest rooms and public spaces, has been modernized to reflect contemporary tastes while maintaining the charm and energy of the city. This makes it an attractive option for guests seeking a modern, well-appointed hotel with easy access to New Orleans’ top attractions.

Gencom’s Continued Growth and Strategic Vision

Founded more than four decades ago, Gencom has grown into a major player in the real estate investment and development industry, with nearly $8 billion in assets under management. The firm currently owns 23 properties worldwide, which together comprise over 7,000 hotel rooms across a range of brands and destinations. Through its affiliate company, Pyramid Global Hospitality, Gencom oversees 240 properties in more than 40 locations globally, representing a total of 50,000 hotel keys.

The firm’s success can be attributed to its ability to identify high-potential markets and properties that can benefit from strategic upgrades and management. Karim Alibhai, who founded Gencom in 1987, has played a crucial role in shaping the company’s vision and growth. Alibhai’s journey into the hospitality industry began at his family’s Best Western hotel in Houston, where he worked while completing his college education. Originally from Kenya, Alibhai’s family had deep roots in the region, having emigrated from India generations earlier.

Under Alibhai’s leadership, Gencom has built a diverse portfolio of hospitality assets, from luxury hotels and resorts to mixed-use developments. The firm’s reputation for delivering value and creating exceptional guest experiences has helped it maintain a strong position in a competitive market.

New Orleans Hospitality Market Showing Strong Growth

New Orleans continues to be one of the top tourist destinations in the United States, thanks to its unique blend of culture, history, music, and events. The city’s hospitality market has benefited from a strong post-pandemic recovery, and its performance has been bolstered by popular events such as Mardi Gras, which brings millions of visitors to the city each year.

Recent data reveals impressive growth in the city’s hotel performance metrics. New Orleans saw the second-highest increase in average daily rate (ADR), which rose by 20.5% to $224.46. Revenue per available room (RevPAR) also surged, climbing 17.2% to $162.86, further indicating the city’s strong recovery and ongoing appeal to both business and leisure travelers. These metrics highlight the profitability of the New Orleans market, making it an attractive location for hotel investors and operators like Gencom.

Looking Ahead: Gencom’s Vision for the Future

With this latest acquisition, Gencom continues to solidify its position as a leading player in the hospitality investment sector. The addition of The Ritz-Carlton and Courtyard hotels in New Orleans enhances the firm’s existing portfolio and supports its goal of expanding into key markets worldwide. As the firm looks to the future, it will likely continue to focus on properties in prime locations that offer strong growth potential, modern amenities, and exceptional guest experiences.

As tourism in New Orleans and other global destinations continues to recover and expand, Gencom’s strategic acquisitions and innovative approach to property management will likely keep the firm at the forefront of the real estate investment and hospitality development industries for years to come.

The post Miami-Based Gencom Acquires Iconic Ritz-Carlton and Courtyard Hotels in New Orleans’ Historic French Quarter appeared first on Travel And Tour World.