A real estate hospitality joint venture between Bain Capital Credit and Stoneweg Hospitality has bought a 400-room Andalucía Plaza hotel complex in Spain.
The venture has paid an undisclosed amount for the asset in Marbella, with the aim of renovating the establishment to offer a new hotel experience. The property will continue to be operated by H10 Hotels until the end of 2021.
Fabio Longo, a managing director at Bain Capital Credit, said: “We are delighted to have acquired this great hotel in such a prime location, in the heart of Puerto Banús on the Costa del Sol.
“Our expertise in the Spanish hospitality industry will allow us to invest strategically in the facilities and reposition the venue to reach its full potential, in partnership with Stoneweg.”
Joaquín Castellví, founding partner and head of European acquisitions at Stoneweg, said: ” We are really delighted with the closing of this operation. We want to offer an experience with a first-class lifestyle concept, responding to the new and rising demand of the Costa del Sol.”
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