Bain Capital Credit and Stoneweg Hospitality Acquire 400-Room Marbella Hotel

Main Photo: The Andalucia Plaza Hotel

Date: June 2021

Location: Puerto Banus, Marbella, Spain

Name: The Andalucia Plaza

No. of Keys: 400

Seller: 

Buyer: Bain Capital Credit, LP and Stoneweg Hospitality 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 elegant and bright hotel of Andalusian architectural style is located in the heart of Puerto Banús, one of Spain’s most exclusive destinations for international luxury tourism, and walking distance to the beach, marina, luxury designer boutiques and upmarket bars and restaurants. Golf clubs are a short drive, and combined with destination shopping and events, the Andalucía Plaza is a year-round resort. Facilities of the hotel 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 transform this iconic establishment located next to the Casino de Marbella into a unique Lifestyle destination and a centre 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.

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 kilometres 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.

“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.”

Bain Capital Credit 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.

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.

Stoneweg is a real estate investment adviser and asset manager established in 2015 and headquartered in Geneva, Switzerland. The firm leverages in-house local operational teams to source, develop and manage real estate investments.

To date, Stoneweg has executed and advised on almost €5 billion of real estate investments across different sectors including developments. Stoneweg expertise includes both equity and debt strategies, advising its client base of financial institutions and family offices across a range of structures including club deals, joint ventures, co-investments and funds.

Stoneweg has dedicated presence in Switzerland, the United States, Spain, Italy, Andorra and Ireland, enabling many of the operational aspects of the firm’s investments to be carried out in house and locally. They have completed more than 300 acquisitions alongside best-in-class partners since 2015.

THPT Comment: These two heavyweights have acquired this historic hotel that started it all off in Marbella…look forward to see what they will do with it in 2022..and who they choose to manage and brand the hotel.

First Seen: A joint press release from Bain and Stoneweg

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