US-based investment company Gencom has acquired the 253-room Ritz-Carlton New York, Central Park hotel in Midtown Manhattan, marking its third luxury hotel acquisition in New York City within 16 months.

The acquisition was funded by Banco Inbursa, strengthening Gencom’s presence in New York City and marking its 11th collaboration with The Ritz-Carlton brand.

The Ritz-Carlton New York, Central Park offers a gastro lounge, spa, and newly renovated fitness center, with guest rooms featuring separate seating areas and marble bathrooms.

Gencom’s chief investment officer stated that the acquisition exemplifies their investment strategy, integrating the hotel into their portfolio that includes other luxury brands like Four Seasons and St Regis.

Gencom founder expressed excitement for the acquisition, highlighting the company’s focus on luxury assets with global appeal in leading hospitality markets like New York City.

Read more at Yahoo Finance: Gencom acquires Ritz-Carlton hotel in US