Bain Capital and Stoneweg Hospitality buy the H10 Andalucía Plaza hotel for its comprehensive reform
PILAR MARTÍNEZ Málaga Tuesday, June 1, 2021, 12:28 PM
COMPONENTS
The first hotel built in Puerto Banús in the 70s, the H10 Andalucía Plaza, has been acquired by Bain Capital Credit and Stoneweg Hospitality, a real estate investment platform with headquarters in Geneva. Both have created a real estate and hotel 'joint venture' through which they have proceeded to the purchase of this establishment with 400 rooms that they intend to comprehensively renovate to "offer a new hotel experience in one of the best locations on the Spanish coast », They point out. In addition, they specify that the hotel will continue to be operated by H10 Hotels until the end of the year.
"We are very happy to have acquired this great hotel in such a privileged location, in the heart of Puerto Banús on the Costa del Sol", stated Fabio Longo, CEO of Bain Capital Credit, to emphasize that "our experience in the sector Spanish hotelier will allow us to strategically invest in its facilities and rehabilitate the site so that it reaches its full potential, in collaboration with Stoneweg ». The latter firm bases its operations on its own local teams in the different regions to originate, execute and manage real estate strategies and investments. To date, Stoneweg has completed more than 300 operations worth almost ? 5 billion.
The project they contemplate for this establishment, which has historically been marketed for adults only, includes a renovation of the hotel that "will transform this iconic business located next to the Marbella Casino into a unique 'Lifestyle' destination and a central point for multiple events that take place throughout the year in Marbella ?, they affirm. Thus, the works will include the remodeling of the rooms, common areas such as the entrance and reception, the swimming pool and the gardens and outdoor terrace, among others.
Joaquín Castellví, founding partner and responsible for the acquisitions in Europe of Stoneweg, highlights that: ?we are really satisfied with the closing of this operation. We want to offer an experience with a more first-class lifestyle concept, adapting to the new and growing demand of the Costa del Sol ». It further notes that ?Stoneweg offers both development strategies, in different sub-classes, and debt strategies to institutional investors and wealth managers, with a very flexible structuring. It has offices with local management teams in Spain, Switzerland, the United States, Italy, Andorra and Ireland ?.
TOPICS
TopicsMarbella, Tourists
