Overview
- Gencom led the purchase of the 652-room, 34-story InterContinental Miami in a deal announced in early November, with Miami-based White Bridge Capital and international family office partners supplying a large share of the equity.
- Company statements say the buyer will focus on growing revenue from rooms, meetings and events, and food and beverage by building on a comprehensive renovation that updated guest rooms, the Club InterContinental lounge, pool cabanas and the SkyLawn outdoor event space.
- The hotel offers 35 meeting rooms and more than 90,000 square feet of flexible indoor and outdoor event space, positioning it to serve leisure travelers, corporate groups, conventions and social events in downtown Miami.
- Amenities and on-site dining include a rooftop pool with private cabanas, full-service spa, Club InterContinental lounge and venues such as Toro Toro, Bluewater, Ole, Starbucks and Freddy’s Speakeasy; operational or staffing changes and the purchase price were not disclosed.
- The acquisition expands Gencom’s concentrated Miami strategy — it already owns other luxury properties including the InterContinental New York Times Square and holds interests in Ritz-Carlton hotels — and follows its larger Miami development plans such as the Miami Riverbridge joint venture with Hyatt.