Bain Capital Credit and Stoneweg Hospitality, via their real estate hospitality joint venture, have acquired the 400-room Andalucía Plaza hotel complex in Marbella.
Financial details were not disclosed, but Spanish media reports place the deal at over €100 mln.
The deal was struck with the aim of renovating the establishment to offer a new hotel experience in a key location on the Spanish coast. 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.'
Hotel facilities include 400 guest rooms, several bars and restaurants, swimming pool, multiple meeting rooms, gym and spa. H10 has historically operated the hotel as adults only.
The repositioning of the hotel will include the refurbishment of the guest rooms, common areas including the lobby, pool, the various F&B outlets and the gardens and outdoor terrace.
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.'
