Miami’s Ritz-Carlton to Close for $100M Renovation

A year after becoming a majority owner of the Ritz-Carlton hotel on Miami’s Key Biscayne, Gencom is temporarily closing the oceanfront property to launch a $100 million renovation, the developer announced.

Miami-based Gencom co-developed the 17-acre resort at 455 Grand Bay Drive 25 years ago. The 275,000-square-foot property holds 420 rooms and 600 feet of ocean beach access. 

The renovations — the most comprehensive since the opening of the 13-story hotel — will mostly include cosmetic upgrades, such as adding soft beige tones and lush greenery to “evoke the sand and seas,” according to a press release. The lobby will also receive new east-facing, floor-to-ceiling windows to showcase ocean views. 

“These enhancements will allow the property to remain competitive in the region’s increasingly sophisticated hospitality landscape, while further elevating Key Biscayne as a premier destination,” Karim Alibhai, founder and principal of Gencom, said in a statement.

Gencom did not disclose if the firm is using any debt to fund the renovation. The hotel is scheduled to reopen in December. The village of Key Biscayne sits on a barrier island southeast of Miami and is connected to the city by the Rickenbacker Causeway.

Hart Howerton served as design architect. Design Agency redesigned the public spaces, as Chapi Chapo Design did for the guest rooms. 

The hotel’s closure comes about a year and a half after Gencon upped its stake in the resort, becoming a majority owner and buying out Brookfield Asset Management. The deal valued the property at more than $400 million. In 2023, the hotel nabbed $210 million to refinance. 

Julia Echikson can be reached at jechikson@commercialobserver.com.