**Gencom Secures $300M to Renovate The Ritz-Carlton Key Biscayne, Miami**
A partnership led by hospitality investment firm Gencom has secured a $300 million debt facility to refinance existing obligations and support a sweeping renovation of The Ritz-Carlton Key Biscayne, Miami. The financing was led by Blackstone Real Estate Debt Strategies.
Gencom has a deep-rooted investment history on Key Biscayne, having co-developed the iconic Ritz-Carlton property at 455 Grand Bay Drive nearly 25 years ago. The extensive improvement plan includes upgrades to the hotel’s exterior façade, lobby, guest rooms, public areas, six dining venues, the spa, pool areas, fitness center, The Club Lounge, and the renowned Cliff Drysdale Tennis Center.
As part of the broader master planning initiative, Key Bay Club—an affiliate of Fortune International Group—has contributed the adjacent Grand Bay Club, located at 425 Grand Bay Drive, to a Gencom-led joint venture. This partnership will combine the hotel and beach club properties into a unified 22-acre master-planned destination, boasting more than 1,200 linear feet of beachfront.
The revitalization aims to further elevate the luxury resort’s stature while positioning the combined site for long-term growth and enhanced guest experiences.
