MIAMI Gencom Group, the owner/developer of three Ritz-Carlton projects here in the United States, is seeking to expand into the Caribbean and Mexico, said the company s President, Karim Alibhai.
We are looking at doing properties with Rosewood and with Aman Resorts, Alibhai told HOTEL BUSINESS.. Asia-based Aman has one U.S. property in the form of a ski resort in Jackson Hole, WY. Alibhai said Aman s properties tend to range from 40 to 60 rooms, charging in the area of $700 to $800 a night.
The Caribbean and Mexico properties would include mixed-use components, said Alibhai.
Gencom developed the newly opened Ritz-Carlton, Philadelphia and is building another Ritz-Carlton in Key Biscayne, FL. The company has also partnered with Vail Resorts for The Ritz-Carlton, Bachelor Gulch, which will be built in Vail, CO.
Alibhai noted that Gencom is also considering doing up to three more Ritz-Carlton projects. Two would be in coastal destinations and one would be in a desert setting.
Aside from luxury resort development, Gencom joined with Lehman Brothers last year as an investor in Interstate Hotels. Alibhai said he forecasts having holdings in 20 hotels through that agreement.
We hope to grow that into a portfolio worth $500 million to $1 billion, he said, because Interstate is one of the most capable operators out there, so we want to drive the benefit of that group. (3/8/01) Ruthanne Terrero