Gencom has acquired The Ritz-Carlton, New Orleans and the Courtyard by Marriott French Quarter Iberville, a combined 758-room hotel portfolio in the city’s French Quarter.
The Ritz-Carlton, New Orleans has 528 rooms and suites, more than 48,000 square feet of event space, a fitness center and indoor swimming pool and a 25,000-square-foot spa, the largest in the city. The hotel’s offerings include live jazz at Davenport Lounge and M Bistro’s locally inspired cuisine.
The adjacent 230-room Courtyard by Marriott is within walking distance of Bourbon Street, the Caesars Superdome and the New Orleans Ernest N. Morial Convention Center. The location attracts both business and leisure travelers.
“New Orleans is a compelling market for luxury hospitality, and we are excited to expand our presence in this high-profile destination,” said Karim Alibhai, founder and principal of Gencom. “We look forward to working closely with Marriott to enhance these properties and deliver top-tier guest experiences.”
This marks Gencom’s 10th project under The Ritz-Carlton brand, following the opening of Nekajui, a Ritz-Carlton Reserve in Costa Rica.
Both hotels recently underwent extensive renovations. The Ritz-Carlton’s updates included enhancements to rooms and public areas as well as a $15 million upgrade to its Maison Orleans Club Level. The Courtyard by Marriott completed a full renovation, modernizing all rooms and public spaces.
The deal highlights Gencom’s strategy of acquiring and developing hospitality properties in key urban markets with high tourism demand. Under the leadership of Alibhai, Gencom has been increasingly acquisitive, especially in the luxury segment.
The transactions were financed by Monroe Capital, with Eastdil Secured representing both the seller and buyer.
“This acquisition strengthens our investment in the dynamic New Orleans market,” said Alessandro Colantonio, chief investment officer at Gencom. “The city’s cultural heritage and strong tourism sector make these properties valuable assets.”
In September 2024, Gencom completed the acquisition of the 587-room Thompson Central Park in New York City, further expanding its presence in major U.S. destinations. It also closed on a $550-million recapitalization of the Fairmont Southampton resort
