Bain Capital Credit and Stoneweg Hospitality have bought the Hotel Los Monteros Spa & Golf Resort in Marbella, Spain for their real estate hospitality joint venture.
Bain and Stoneweg have agreed to acquire the group of companies that owns and operates the five-star resort of 178 rooms for an undisclosed sum.
The Hotel Los Monteros Spa & Golf Resort was originally constructed in 1962. The joint venture ”will modernise the asset through a gradual refurbishment of the resort, restoring it to a luxury standard while keeping the essence of its prestigious history” the companies said.
It is the second investment undertaken by the joint venture in the Marbella area following the acquisition of the Andalucía Plaza hotel in Puerto Banús last year.
Miguel Casas, managing director of Stoneweg Hospitality said: ”Los Monteros is a Marbella institution and an excellent opportunity to position the hotel as a leading luxury destination hotel with a programme of active asset management including a gradual refurbishment.
”The Spanish hospitality market continues to show signs of a strong recovery following two years of Covid disruption and, together with our partner Bain Capital, we are very excited about the opportunity that Hotel Los Monteros represents.”
Fabio Longo, managing director at Bain Capital Credit, said: “By utilising our combined expertise in the Spanish hospitality industry, we will be able to gradually modernise this resort to meet the demands of guests and potential operators while being sympathetic to its unique features that have made it a popular and much-loved holiday destination for many years.”
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