Ritz-Carlton Owner to Sell Hotels in New York and Washington (1)

Westbrook Partners is selling Ritz-Carlton hotels in New York and Washington, as affluent consumers demonstrate continued willingness to pay up for luxury travel.

The firm has completed a deal to sell the Ritz-Carlton New York, located on Central Park South, to lodging investor Gencom, according to people familiar with the transaction.

Westbrook is also nearing a deal to sell the Ritz-Carlton Washington DC, in the city’s West End, to Trinity Investments, said one of the people, who asked not to be identified because the negotiations are confidential.

The values being discussed haven’t been publicly disclosed.

“Gencom continues to see ...