Bain Capital Credit And Stoneweg Hospitality Acquire 400-room Marbella Hotel
Bain Capital Credit, LP (“Bain Capital Credit”) and Stoneweg Hospitality (“Stoneweg”) via their real estate hospitality joint venture, today announced the acquisition of the 400-room Andalucía Plaza hotel complex in Marbella, with the aim of renovating the establishment to offer a new hotel experience in one of the best locations on the Spanish coast. The property will continue to be operated by H10 Hotels until the end of 2021.
The repositioning of the hotel will transform this iconic establishment located next to the Casino de Marbella into a unique Lifestyle destination and a center point for the multiple events that take place throughout the year in Marbella. The works will include the refurbishment the guest rooms, common areas including the lobby, pool, the various F&B outlets and the gardens and outdoor terrace.
A hotel with history in a privileged location 365 days a year
The hotel was the first building in Puerto Banús, built in the 1970s. Marbella, with 2,900 hours of sunshine a year, emblematic hotels, almost 30 kilometers of Mediterranean beaches and an exceptional gastronomic offer - it has 8 Michelin-starred restaurants - is a consolidated destination for luxury tourism on a global scale 365 days a year. The H10 Andalucía Plaza is located in Puerto Banús, an enclave in Marbella that is visited by five million tourists every year.
“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,” said Fabio Longo, a Managing Director at Bain Capital Credit. “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.”
About Bain Capital Credit
Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $44 billion in assets under management. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities, and real estate special situations. Our team of more than 240 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.