Gencom has closed on a $550 million recapitalization of the Fairmont Southampton resort in Bermuda, funding a major redevelopment and expansion of the 593-key resort.
“With this latest transaction, we are thrilled to strengthen our investment in Bermuda’s vital tourism and hospitality sector, as the country continues to rank as a leading tourism destination,” Karim Alibhai, founder and principal of Gencom, said in a statement. “The extensive redevelopment of Fairmont Southampton reflects our deep commitment to the island’s long-term success. These enhancements will elevate the resort to a premier luxury destination, not just in Bermuda but across the broader Caribbean hospitality market.”
The extensive redevelopment underway at Fairmont Southampton will modernize the historic resort, with a complete transformation of all guestrooms. The revamp will also include upgrades to the hotel’s lobby and reception area as well as the meeting spaces and ballrooms. The restaurant spaces will undergo a makeover as well. Fairmont’s Beach Club is being reimagined as a signature amenity that will include a new oceanside beach grill and lavish resort-style pool with breathtaking views of the beachfront. The redevelopment will additionally include a multi-phased residential program with luxury residences branded under the Fairmont flag. The resort is slated to reopen in early 2026, following the comprehensive renovation.
“We are thrilled to mark another notable step forward toward the reopening of Fairmont Southampton," said Fairmont Hotels & Resorts CEO Omer Acar said. "This hotel is not only of significance to the island of Bermuda, but it is also a much-loved member of the Fairmont family. We are eager to reopen the doors and to get back to what we do best, delivering special experiences for our guests, fostering a strong team, and creating rewarding opportunities for career-building and growth for Bermudians. It is an exciting time, and we are delighted to be working closely with our valued partners at Gencom in re-imagining this iconic property.”
Financing for the Fairmont Southampton transaction was provided by key institutional lenders, led by Starwood Property Trust and Clarien Bank.
“We are excited to be working with leading institutional lending partners on this venture and to reach this significant milestone with our Bermuda holdings,” said Alessandro Colantonio, Chief Investment Officer at Gencom. “As we continue to forge ahead, we look forward to delivering this world-class destination resort that will benefit the Bermuda tourism industry and local economy for decades to come.”
Lotus Capital Partners, led by Faisal Ashraf, served as capital markets advisor to Gencom on this deal.
Gencom’s Bermuda assets are part of the firm’s branded hotel portfolio, which includes destinations such as The Ritz-Carlton Bachelor Gulch; The Ritz-Carlton Key Biscayne; The Ritz-Carlton Philadelphia; The St. Regis Chicago; Four Seasons Costa Rica; Nekajui Ritz-Carlton Reserve currently under construction; and other five-star flags under Auberge, Hyatt, and more.