Spain: Stoneweg Hospitality and Bain Capital Credit have signed an agreement to acquire the companies which own and operate the Hotel Los Monteros Spa & Golf Resort in Marbella.
The five-star resort features 178 rooms (mainly suites), three restaurants, a spa with outdoor swimming pool, a gym, seven tennis courts, six paddle courts, over 10,500 square feet of event space, and a beach club.
Stoneweg and Bain plan to refurbish the property to a luxury standard.
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, added: “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.”
The acquisition follows the purchase of Andalucía Plaza hotel in Puerto Banús, which is currently being converted into a Hard rock Hotel with 384 rooms. The property is expected to open in June 2022.
Bain Capital Credit has approximately $52 billion in assets under management. In addition to credit, the company invests across asset classes including private equity, public equity, real estate and venture capital.
Stoneweg Hospitality is a real estate investment adviser and asset manager. The group has advised on almost €5 billion of real estate investments across different sectors and has presence in Switzerland, the US, Spain, Italy, Andorra and Ireland.