Nortia (Manuel Lao) y Gencom se hacen con el InterContinental Miami valorado en 265 millones

Manuel Lao's investment firm, Nortia, and American investment firm Gencom have acquired the InterContinental Miami for approximately $265 million (265 million euros). The InterContinental Miami, valued at $300 million (265 million euros), is one of the leading luxury hotel assets in southern Florida. The acquisition comes alongside other investors and marks Nortia's and Gencom's continued positioning in the international hotel sector through the incorporation of premier assets in strategic locations.

Situated in the heart of Miami's financial district near Biscayne Bay, the InterContinental Miami boasts 652 rooms and suites. It is known for its bay views and proximity to the Brickell Financial District. The previous owner of the property was Dajia Insurance Group. In 2016, the Chinese financial giant Anbang Insurance Group purchased the Strategic Hotels & Resorts portfolio, which originally owned the InterContinental Miami, from Blackstone for $5.5 billion.

In 2018, due to financial troubles, Chinese regulatory authorities intervened and assumed control of Anbang. A year later, Dajia Insurance Group was created to assume the majority of Anbang's operations, including this luxury hotel portfolio.

This investment by Nortia and Gencom follows their recent acquisition of The Ritz-Carlton Central Park in New York earlier this year, one of their most significant recent moves in the hotel sector. For Nortia, this operation fits into their strategy of rotating and diversifying their portfolio after recently divesting in Pulitzer Hoteles, boutique urban assets they had invested in alongside the Pulitzer group.

Besides these two U.S. hotels, Nortia also owns the Don Cándido hotel in Terrassa. Manuel Lao, president of Nortia Capital, explains that the InterContinental Miami combines exceptional features with its strategic location, brand positioning, and relevance within the international hotel sector, fitting perfectly with their long-term investment strategy based on asset quality and value creation.