Bain Capital Credit, LP (“Bain Capital Credit”) and Stoneweg Hospitality (“Stoneweg”), through their hotel real estate joint venture, announce the acquisition of the 400-room H10 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 Andalusian architectural style hotel is located in the heart of Puerto Banús, one of the most exclusive destinations in Spain for international luxury tourism, a short distance from the beach, the marina, the best boutiques, bars , restaurants and golf courses. H10 Andalucía Plaza is, without a doubt, the best tourist complex on the Costa del Sol throughout the year. The hotel facilities include 400 rooms, several bars and restaurants, swimming pool, multiple meeting rooms, gym and spa. Historically, H10 Hotels has operated the hotel for adults only.
The rehabilitation of the hotel will transform this iconic establishment located next to the Marbella Casino into a unique Lifestyle destination and a central point for the many events that take place throughout the year in Marbella. The works will include the remodeling of the rooms, common areas such as the lobby, the swimming pool, the different F&B points of sale and the gardens and outdoor terrace.
A HOTEL WITH HISTORY
The hotel was the first building in Puerto Banús, built in the 70s. In turn, 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 restaurants that boast one Michelin star-, it is a consolidated destination for luxury tourism on a world scale 365 days a year. The H10 Andalucía Plaza is located in Puerto Banús, a Marbella enclave visited by five million tourists each 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. «Our experience in the Spanish hotel sector will allow us to strategically invest in its facilities and rehabilitate the site so that it reaches its full potential, in collaboration with Stoneweg. »
Joaquín Castellví, Founding Partner and Head of Acquisitions in Europe at Stoneweg, highlighted: «We are really satisfied with the closing of this operation. 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. »