Source: STONEWEG

London/Madrid/Geneva – Stoneweg Hospitality (“Stoneweg”) and Bain Capital Credit, LP (“Bain Capital Credit”), via their real estate hospitality joint venture (the “JV”), have signed an agreement to acquire the group of companies that owns and operates the Hotel Los Monteros Spa & Golf Resort in Marbella, Spain. It is the second investment undertaken by the JV in the Marbella area following the acquisition of the Andalucía Plaza hotel in Puerto Banús in 2021, which is currently being converted into the Hard Rock Hotel Marbella.

Originally constructed in 1962, the five-star resort comprises 178 rooms, suites for the most part; a large outdoor swimming pool; three restaurants, including El Corzo, the first hotel restaurant in Spain to have received a Michelin Star; a spa; a gym; seven tennis courts; and six paddle courts. One of the first five-star hotels in Spain, the resort has hosted numerous famous guests over the years including royalty, musicians and Hollywood stars.

The hotel has more than 10,700 sq ft of space to host corporate and social events, including conferences and weddings. The resort’s celebrated luxury beach club, La Cabane Beach Club, provides magnificent beachfront views of the ocean in an elegant setting.

The hotel is located to the east of central Marbella, in an area of beaches and high-class housing estates, close to the town’s marina, luxury designer boutiques, upmarket bars and dining options, while several golf clubs are a short drive away.

The JV will modernise the asset through a gradual refurbishment of the resort, restoring it to a luxury standard while keeping the essence of its prestigious history.

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.”

This acquisition follows the JV’s purchase of the Andalucía Plaza hotel complex in the heart of Puerto Banús, Marbella, which is currently undergoing a complete transformation to convert the site into a Hard Rock Hotel with 384 rooms, including 50 suites. Hard Rock Hotel Marbella is expected to welcome its first guests in June 2022.

About Stoneweg

Stoneweg (www.stoneweg.com) is a real estate asset manager and investment advisory group established in 2015 and headquartered in Geneva, Switzerland. The Group relies on local operating teams to identify, develop and manage real estate investments around the World. To date, Stoneweg has invested more than €5 billion in real estate in various sectors including residential, commercial, logistics and hospitality. Stoneweg's expertise lies in both equity and debt investment strategies. Its clients include financial institutions and family offices that invest in a variety of structures, including club deals, joint ventures and co-investments. Stoneweg Hospitality (established in 2021) owns and manages a portfolio of prime hotels in Southern Europe, which have been, or are in the process of being, repositioned through significant managerial turnarounds, CapEx programs and reflagging strategies. With more than 140 employees, Stoneweg is present in Switzerland, the United States, Spain, the United Kingdom, Ireland, Andorra and Italy. Since 2015, Stoneweg has completed more than 300 acquisitions alongside best-in-class partners.

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