Gencom, White Bridge Capital Acquire 652-Key InterContinental Miami in Downtown Miami
MIAMI — Gencom, a U.S.-based investment firm, in partnership with Miami-based White Bridge Capital, announced Oct. 30 that it acquired the InterContinental Miami, a 652-room waterfront hotel at 100 Chopin Plaza in Downtown Miami. The seller was Strategic Hotels & Resorts.
The purchase price was approximately $300 million, or roughly $460,000 per key. The 34-story hotel sits at the confluence of the Miami River and Biscayne Bay.
Gencom and White Bridge Capital Partnership
White Bridge Capital, together with its international family office partners, contributed a significant portion of the equity capital for the acquisition, the firms said. The partnership reflects continued institutional and family office interest in hospitality assets in high-barrier-to-entry markets.
"Our partnership with Gencom reflects our commitment to pursuing extremely unique investment opportunities alongside best-in-class sponsors who share our vision for unlocking the full potential of exceptional assets," said Tommy Campbell, founder and chief executive officer of White Bridge Capital.
Regina Garcia Handal, chief investment officer of White Bridge Capital, said the transaction reflects the firm's investment philosophy and that of its family office partners, "centered on investing in irreplaceable assets with strong long-term fundamentals in premier gateway markets."
Property Details of the InterContinental Miami
The hotel includes 22 suites ranging from approximately 850 square feet to the 2,800-square-foot Presidential and Royal Suites. Standard rooms average about 405 square feet and offer views of Biscayne Bay and the Miami skyline. The property recently completed a renovation that updated guestroom furnishings, finishes and technology, and refreshed the Club InterContinental Lounge, pool cabanas and SkyLawn outdoor event space.
The hotel has 35 meeting rooms and more than 90,000 square feet of indoor and outdoor event space. Amenities include a rooftop pool with private cabanas, a full-service spa, a fitness center, a business center and on-site retail. Food and beverage outlets include Toro Toro, chef Richard Sandoval's Pan-Latin steakhouse; Bluewater, a rooftop restaurant and bar; Ole; Starbucks; and Freddy's Speakeasy, a reservation-only cocktail bar.
Ignasi Puig, managing director of acquisitions at Gencom, said the property's recent capital investment, operating performance and mix of leisure, corporate and group business provide a foundation for long-term value creation. With the renovation complete, he said, Gencom can focus on strengthening revenue across rooms, meetings and events, and dining.
Expanding Gencom's Miami and Hospitality Portfolio
The acquisition is Gencom's latest luxury hotel asset in Miami and its second InterContinental-branded property, following its purchase of the InterContinental New York Times Square in late 2025.
Gencom's other Miami holdings include The Ritz-Carlton Key Biscayne, a 423-key oceanfront resort that Gencom co-developed in the late 1990s and recently completed a transformation costing more than $100 million. In December 2025, the firm reacquired a majority interest in the 115-key Ritz-Carlton Coconut Grove.
Gencom is also advancing Miami Riverbridge, a privately funded joint venture with Hyatt valued at more than $1.5 billion to redevelop the Hyatt Regency Miami and James L. Knight Center site along the Miami River. Plans call for two hotels, 700 apartments, 200,000 square feet of meeting and event space and 50,000 square feet of public green space.
"InterContinental Miami is a significant addition to Gencom's portfolio and represents an important opportunity to deepen our presence in one of the most dynamic and globally recognized markets in the country," said Alessandro Colantonio, chief investment officer at Gencom.
Gencom reports $7 billion in assets under management and under development, including 17 owned assets in operation or under development with more than 5,000 hotel rooms. Through its affiliate Pyramid Global Hospitality, it oversees 185 managed properties totaling 50,000 keys.
Miami Hotel Market Context
Miami-Dade hotels posted 74.2% occupancy through August 2026, down 2.4%, while average daily rate rose 12.8% to $261.54 and revenue per available room increased 10.1% to $193.95. Occupancy in August alone was 63.6%. Colliers reported Miami average daily rate of $185.36 in the third quarter, while statewide Florida occupancy was 62.5% with an average daily rate of $167.28 and RevPAR of $106.17.
Downtown Miami continues to benefit from corporate relocations, investment in residential and mixed-use development, growth in finance and technology, and an expanding global tourism profile, according to the announcement. The market's calendar of events, including Art Basel Miami Beach, the Formula 1 Miami Grand Prix, Miami Music Week and the Miami Open, supports demand from domestic and international travelers.
Strategic acquired the hotel for $52.2 million in 2005.
Outlook
The InterContinental Miami is part of IHG Hotels & Resorts' Luxury & Lifestyle portfolio. For Gencom, the purchase adds a waterfront Downtown Miami asset near the site of its Miami Riverbridge project, while giving White Bridge Capital and its family office partners a stake in a recently renovated, full-service hotel in the market.