US-based investment company Gencom has acquired Thompson Central Park, a 587-key luxury-lifestyle hotel on Manhattan’s Billionaires’ Row in New York City, US.
Financial details of the deal remain undisclosed.
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The 42-storey property, which recently carried out an extensive revamp, is Gencom’s maiden venture in the city.
Thompson Central Park offers 4,500ft² of meeting space and various food and beverage options, along with a 6,500ft² spa and fitness centre that is set to launch later this year.
The hotel’s upper stories provide an exclusive guest lounge and customised services such as a private arrival and departure process.
Affiliates of Ramsfield Hospitality Finance, Affinius Capital, and AB CarVal funded the deal.
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By GlobalDataGencom founder and principal Karim Alibhai said: “With this latest hotel acquisition, we continue to grow our diverse real estate portfolio and further strengthen our relationship with Hyatt, while adding Thompson Central Park as the latest hotel flag in our portfolio.
“Recognising the strength of the US hospitality market, particularly in cities with high barriers to entry like New York, this transaction represents a key addition to our hospitality portfolio in North America that includes iconic hotel properties in major markets such as Miami, Chicago, Denver and Philadelphia.”
This move adds the first Thompson Hotels-branded property to Gencom’s network, which already includes brands such as The Ritz-Carlton and Four Seasons Hotels and Resorts, among others.
The company’s relationship with Hyatt includes plans for the redevelopment of Miami’s Hyatt Regency and the overhaul of Andaz Costa Rica Resort at Peninsula Papagayo.
Hyatt Americas group president Pete Sears said: “We are excited to deepen our relationship with Gencom and continue collaborating in even more meaningful ways across its diverse portfolio of Hyatt Hotels.”
This announcement follows Gencom affiliates’ refinancing of the Rosewood Bermuda resort in May 2024.
