Ritz-Carlton hotels in Midtown Manhattan and Washington, D.C., are changing hands in a major transfer of luxury hotels.
The Ritz-Carlton at 50 Central Park S. in Midtown Manhattan
Westbrook Partners, a Palm Beach Gardens, Florida-based real estate investment firm, has sold The Ritz-Carlton New York, Central Park and is on the verge of selling The Ritz-Carlton Washington, D.C. in the West End neighborhood of the nation’s capital.
Miami-based investor Gencom acquired the 253-room Manhattan hotel at 50 Central Park S., it announced on Friday. Trinity Investments, another Miami-based private real estate firm, is nearing a deal for the 300-key D.C. hotel at 1150 22nd St. NW, Bloomberg reported.
Westbrook, which has invested more than $14B of equity into real estate over the past three decades, also lined up Blackstone as a buyer for its Four Seasons Hotels San Francisco in November, Bloomberg previously reported.
The Ritz-Carlton overlooking Central Park is Gencom’s third NYC acquisition in less than 18 months, following its $300M purchase of the 587-key Thomson Central Park in 2024 and its $230M joint venture deal for the 607-key InterContinental New York Times Square in December.
“The Ritz-Carlton New York, Central Park exemplifies the standards of excellence that guide our investment strategy,” Gencom Chief Investment Officer Alessandro Colantonio said in a statement. “We are excited to elevate its position as one of the city’s premier luxury hotels.”
Westbrook and Trinity Investments didn’t immediately respond to requests for comment.
Gencom declined to disclose the price of its acquisition, which is also its 11th hotel that carries Marriott International’s Ritz-Carlton brand. It secured an acquisition loan from Banco Inbursa to finance the purchase.
The Gencom deal follows a series of luxury hotel sales in NYC in recent months as investors — driven by a lack of incoming supply and robust demand for luxury travel — have pounced on properties that weary owners are offloading at discounts.
D.C. hotel owners, meanwhile, have been among the hardest hit as the Trump administration’s cuts spurred a drop-off in local hotel spending, in addition to reduced business travel as companies recalibrate in the face of ongoing economic uncertainty.
Turbulence in international travel is also affecting hotels across the U.S., in spite of a predicted wave of visitors coming for the 2026 FIFA World Cup, the Route 66 Centennial and the nation’s 250th anniversary.
Instead, the federal government’s tariff policies and immigration crackdowns have prompted 46% of prospective tourists to think twice about their plans, Skift reported in December.
