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 partnership with headquarters in Geneva.
Both companies have got together to create a real estate and hotel 'joint venture' through which they have purchased the 400-room establishment. They plan to extensively renovate the property to "offer a new hotel experience in one of the best locations on the Spanish coast.” The new owners point out 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," said Fabio Longo, CEO of Bain Capital Credit, who added, "Our experience in the Spanish hotel sector will allow us to invest in its facilities and the site so that it reaches its full potential, in collaboration with Stoneweg.”
The project includes a renovation of the hotel that "will transform this iconic business located next to the Marbella Casino into a unique 'lifestyle' destination and be a central point for many events that take place throughout the year in Marbella,” the group says and the works will include the remodelling of the rooms, common areas such as the entrance and reception, the swimming pool and the gardens and outdoor terrace.
Joaquín Castellví, founding partner of Stoneweg, said: “We are really satisfied with closing this deal. 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.”
The company has offices with local management teams in Spain, Switzerland, the United States, Italy, Andorra and Ireland.