Bain Capital Credit, LP (“Bain Capital Credit”) and Stoneweg Hospitality (“Stoneweg”) through their joint venture in the real estate hotel industry, 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 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 property next to the Marbella Casino into a unique lifestyle destination and a focal point for the multiple events that take place throughout the year in Marbella. The works will include the renovation of the rooms, common areas including the hall, the swimming pool, the various catering outlets and the gardens and the outdoor terrace.
A hotel steeped in history in a privileged location 365 days a year
The hotel was the first building in Puerto Banus, built in the 1970s. Marbella, with 2900 hours of sunshine per year, iconic hotels, almost 30 kilometers of Mediterranean beaches and an exceptional gastronomic offer – it has 8 starred restaurants Michelin – is a consolidated luxury tourism destination worldwide 365 days a year. The H10 Andalucía Plaza is located in Puerto Banus, an enclave of Marbella visited by five million tourists each year.
“We are delighted to have acquired this great hotel in such a privileged location, in the heart of Puerto Banús on the Costa del Sol,” said Fabio Longo, Managing Director of Bain Capital Credit. “Our expertise in the Spanish hotel industry will allow us to strategically invest in the facilities and reposition the place 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 growing demand of the Costa del Sol.”
About Bain Capital Credit
Bain Capital Credit (www.baincapitalcredit.com) is one of the world’s leading credit specialists with approximately $ 44 billion in assets under management. Bain Capital Credit invests in capital structure and the full range of credit strategies, including leveraged loans, high yield bonds, distressed debt, private loans, structured products, loans and non-performing stocks and special real estate situations. Our team of more than 240 professionals creates value through rigorous and independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests in all asset classes including private equity, private equity, venture capital and real estate, and leverages the company’s shared platform to capture opportunities in strategic areas.
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