Gencom, a private investment firm specializing in hospitality, has completed the acquisition of the Ritz-Carlton New York, NoMad, marking its third recent purchase of a luxury hotel property.
The transaction, finalized on Monday, adds the 250-room Ritz-Carlton located in Manhattan’s NoMad district to Gencom’s expanding portfolio. The financial terms of the deal were not disclosed. Gencom’s acquisition follows its recent purchases of the Four Seasons Resort in Jackson Hole, Wyoming, and the Waldorf Astoria in Atlanta Buckhead.
“We are excited to add the Ritz-Carlton New York, NoMad to our collection of luxury hotels,” said Gencom CEO Karim Alibhai in a statement. “This property is a premier destination in Manhattan, and we look forward to enhancing its reputation as a leading hospitality experience.”
The Ritz-Carlton New York, NoMad opened in July 2022 and features 250 guest rooms and suites, a signature restaurant led by chef José Andrés, a rooftop bar, and a spa. The hotel occupies a 500-foot tower at 1185 Broadway and is managed by Marriott International under the Ritz-Carlton brand.
Gencom’s acquisition comes amid a period of increased activity in the luxury hospitality sector, with investors seeking high-end assets in major urban markets. The company indicated that it plans to maintain the hotel’s current management and brand affiliation.
