Miami Landmark Hotel Changes Hands for $300M
The asset previously sold as part of a $6.5 billion transaction.
A partnership between Gencom and White Bridge Capital has purchased InterContinental Miami, a 652-key luxury hotel in downtown Miami. The duo paid about $300 million for this landmark asset, according to Bloomberg.
Dajia Insurance Group sold the property that was part of its luxury Strategic Hotels & Resorts unit. China-based Dajia Insurance Group assumed control of Strategic Hotels & Resorts and its portfolio from Angbang Insurance Group in 2019. The former owner had acquired InterContinental Miami from Blackstone as part of a $6.5 billion transaction in 2016.
White Bridge Capital and its international family office partners contributed a significant portion of the equity in the current deal.
A landmark at the center of Miami’s cultural traditions
Designed by Pietro Belluschi and opened in 1983, InterContinental Miami is one of the city’s major architectural landmarks. The 34-story building serves as the focal point for Miami’s New Year’s Eve celebrations since the 1980s, while also hosting major events such as Art Basel, Miami Art Week and Miami Music Week, among others.
The hotel features guest rooms averaging 405 square feet but also suites ranging from 850 to 2,800 square feet. Amenities at the pet-friendly hotel feature a rooftop swimming pool with private cabanas, a spa center, a fitness center, 35 meeting rooms, a business center, more than 90,000 square feet of indoor and outdoor event space and the Club InterContinental Lounge. The property also includes on-site retail and dining venues.
InterContinental Miami recently completed a comprehensive renovation program that resulted in updated interior furnishings and finishes, upgrades at the Club InterContinental Lounge, as well as improvements of the poolside cabanas and SkyLawn outdoor event space.
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The hospitality tower rises at 100 Chopin Plaza, where Miami River meets Biscayne Bay. The property is close to Bayfront Park, the 32-acre waterfront area serving as the city’s main space for gatherings, holiday celebrations and concerts such as the FIFA Fan Festival for the 2026 FIFA World Cup.
The location is also near Flagler Street, which reopened to traffic and pedestrians in August 2026, following a multi-year beautification project. Brickell City Centre, Interstate 95 and the city’s central business district are also nearby, while Miami International Airport is 9 miles away.
Gencom’s Miami portfolio
The acquisition marks Gencom’s second InterContinental-branded hotel, following the purchase of the InterContinental New York Times Square in late 2025.
The firm’s Miami portfolio also includes Ritz-Carlton Key Biscayne, a 423-key hotel which the company co-developed in the late 1990s and recently renovated it for more than $100 million. Last December, Gencom also reclaimed a majority interest in Ritz-Carlton Coconut Grove, a 115-key property.
In addition, the company is moving forward with Miami Riverbridge, the redevelopment of Hyatt Regency Miami and James L. Knight Center. Developed through a $1.5 billion joint venture with Hyatt, the project was designed to include two hotels, 700 apartment units, 200,000 square feet of event space and 50,000 square feet of green areas.
Miami’s healthy tourism sector
The Magic City’s hospitality industry continues to post healthy fundamentals, according to Greater Miami Convention & Visitors Bureau data. The occupancy rate for Miami-Dade hotels reached 74.2 percent year-to-date as of August, down 2.4 percent over the year. However, downtown Miami/Brickell properties were 75.1 percent occupied during the interval.
Investment and lender activity also kept up with the metro’s strong metrics. In July, Blackstone received $205 million for EAST Miami, a 352-key full-service hotel in Brickell. The 39-story building serves as the hospitality anchor of Brickell City Centre.
The previous month, Blackstone had obtained $115 million for W Fort Lauderdale, a 346-key oceanfront hotel in Fort Lauderdale, Fla. JPMorgan Chase had provided the loan.
Elsewhere in the metro, Assouline-Busch Capital secured a $75.1 million recapitalization for The Monroe Hotel in Miami Beach, Fla. The 89-key hotel, currently underway, is set to come online in 2027.
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