Gencom, Argent Ventures, and Highgate-Led Partnership Acquire The Intercontinental New York Times Square
MIAMI – December 11, 2025 – A partnership between Gencom, a U.S.-based investment firm that owns, operates, and develops prized real estate around the world, Argent Ventures, a vertically-integrated, real estate investment and development firm, and Highgate, an industry-leading hotel management, investment, and development company, announce the acquisition of The InterContinental New York Times Square, a 607-key luxury hotel situated in the heart of Midtown Manhattan.
Standing 34 stories tall, the InterContinental New York Times Square is one of Manhattan's most prominent hotels, offering contemporary design, sweeping skyline views, and immediate access to the city's most celebrated attractions, including Broadway, Rockefeller Center, and Hudson Yards.
The property will transition from IHG management to an IHG franchise, with Highgate assuming management. The hotel, which currently features approximately 20,000 square feet of flexible meeting space, a signature restaurant, a Shake Shack, and a 24-hour fitness center, will also undergo a transformative renovation of guestrooms, public spaces, and dining venues to elevate the guest experience and meet the highest standards of luxury hospitality.
Following Gencom's 2024 acquisition of the Thompson Central Park in New York, this transaction further expands the firm's New York City presence. It marks its first acquisition of an InterContinental Hotels & Resorts-branded property, strengthening Gencom's relationship with leading global hospitality brands.
"As Gencom's second hotel acquisition in New York City in the past 18 months, this transaction underscores our confidence in the long-term strength and global appeal of this destination. We look forward to leveraging Gencom's expertise to elevate the property's experience further, blending luxury with the energy and sophistication of Manhattan."
Karim Alibhai, Founder and Principal of Gencom
Argent Ventures' recent acquisition and conversion of the Crowne Plaza Times Square into the Hyatt Regency Times Square, which is also operated by Highgate, underscores the firm's continued investment in the city's hospitality landscape and its experience in repositioning branded assets.
Highgate, which manages a global portfolio spanning luxury, lifestyle, full-service, and select-service hotels, will assume operational leadership of the property. Highgate’s proven track record of investing and operating in New York City, its leading team of New York-based operators, and strong industry relationships position Highgate to enhance performance and unlock the full potential of this landmark asset. This acquisition follows Highgate’s recent investment in the 1,331-room Row NYC, and marks a continuation of Highgate’s longstanding track record as a leading investor in New York City hospitality real estate.
"Highgate is thrilled to complete another significant investment in New York, and to partner with Gencom and Argent Ventures. Highgate has invested in New York across multiple cycles and multiple asset classes, and remains committed to fielding a best-in-class operating team in the market and delivering exceptional experiences for our guests and leading results for our partners. We are also excited to continue expanding our activities with IHG, and to lead this new chapter for the InterContinental New York Times Square."
Zach Berger, Principal
The acquisition financing for the transaction was provided by Monroe Capital, a leading asset management firm specializing in private credit and real estate.
“Monroe is excited to partner on another deal with Gencom, one of the premier high-end hospitality sponsors globally. In addition, Monroe is pleased to complete a transaction with two additional blue-chip sponsors, Argent and Highgate."
Kyle Asher, Managing Director & Co-Head Alternative Credit Solutions of Monroe Capital
Eastdil Secured represented the seller on the sale as well as the buyer in securing financing. The seller was a joint venture between Tishman and MetLife Investment Management.
The InterContinental New York Times Square joins Gencom's growing hospitality portfolio, which includes distinguished brands such as The Ritz-Carlton, Four Seasons Hotels and Resorts, St. Regis, Rosewood, Thompson Hotels, Andaz, Fairmont, and Auberge Resorts.
Inspired by what you read?
Get more stories like this—plus exclusive guides and resident recommendations—delivered to your inbox. Subscribe to our exclusive newsletter
Resident may include affiliate links or sponsored content in our features. These partnerships support our publication and allow us to continue sharing stories and recommendations with our readers.