creating a UK and Continental European management company.“ We have boots on the ground,” Alibhai said.
Alibhai’ s investment thesis in London is strikingly similar to New York. He says that the capital city has the feel of New York two years ago, citing political upheaval and its round robin of prime ministers as having a negative impact. However, like New York, he’ s convinced that great cities are never down too long.“ We feel like it’ s a good time to enter the market,” he said.“ London’ s not going away.”
While some investment firms may try and position themselves to buy at the bottom of a market, Gencom invests across capital cycles.“ We don’ t need recessions to find good deals,” Alibhai said. In some instances, sellers, he said, may be warming to the fact that it’ s time to transact, not because bid / ask spreads are compressing, but, rather, the asset is underperforming.“ You find that the‘ ask’ becomes much more reasonable,” Alibhai said.
Gencom is a low-levered, hospitality-only investment firm. It’ s a different model than some of its competitors who are prone to layer on heavier debt loads to buy an asset, which, if it works out, can create a higher return on exit. It competes with large names, from Blackstone to Brookfield.
There is no shortage of buyers lined up to acquire luxury properties, a sentiment backed by JLL’ s 2026 Global Hotel Investment Outlook, which is peppered with references to a luxury market that shows no signs of a letup.“ Demand,” it wrote,“ for luxury and ultra-luxury hotels is very strong and exceeds supply growth. This positions the segment as a long-term winner.” Added Alibhai,“ There is a feeding frenzy on luxury.” He cited recent acquisitions of luxury assets from Braemar Hotels & Resorts as an example of this ravenous appetite.“ Luxury is going to further explode,” he said.“ It’ s a class to own for the next 10 years.”
Gencom, like its peer set, is an earnest bidder, but tactical and not foolhardy.“ Hotel
Gencom acquired The Ritz-Carlton, New Orleans in March 2025 as part of a dualproperty portfolio purchase.
real estate is the most volatile business,” Alibhai said, citing other asset classes that are typically tied to long-term leases, such as office and multi-family.“ We are very cognizant of that.” It doesn’ t mean it shies away from deals. Alibhai said it hopes to announce three significant deals in the next 90 days.
Though Gencom is primarily an asset acquirer, it will do ground-up development
A renovated guestroom at The Ritz- Carlton Key Biscayne, Miami, which emerged from a $ 100-million renovation in 2025.
as a small portion of its overall portfolio. It’ s part of the $ 1.6-billion Miami Riverbridge project, alongside Hyatt Hotels Corp. and Arquitectonica that will include a new 615- room Hyatt Regency.
Gencom is not in business for the quick buck. It plays the long game.“ We don’ t have IRR pressure,” Alibhai said.“ We want to be safe and just do multiples on invested capital.”
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