Stoneweg and Bain Capital buy two hotels from Globalia for €83M

Stoneweg and Bain Capital buy two hotels from Globalia for €83M
Be Live Collection Palace de Muro, Mallorca

The agreement between Stoneweg and Bain Capital has led to a new purchase in the hotel segment: two Globalia establishments for a total of 83 million euros, according to Expansión.

The new acquisitions are the Be Live Collection Palace de Muro, located in Mallorca, a five-star hotel with 184 rooms, and the Be Live Experience La Niña, located in Tenerife, a four-star hotel with 226 rooms.

The agreement between the two firms also involves a change of management of the hotel, which will become Hyatt after the investment of 33 million in its repositioning.

The move reduces the debt of the Hidalgo family, owner of Goblalia, which still has pending the sale of Air Europa to IAG. Before opting for the individual sale of its hotel assets, the brand tried to sell the entire portfolio for a total price of 500 million, an idea it abandoned when it did not receive any offer that came close to the figure.

With a four- and five-star hotel network, Be Live has more than 30 assets in Spain, Portugal, Morocco, Cuba, the Dominican Republic and Colombia. In total, more than 10,000 rooms.

With this acquisition, Stoneweg and Bain Capital reaffirm their interest in the Spanish market, where they have made several acquisitions in recent months, such as The Don Carlos Hotel (Ibiza) from the Matutes family, Los Monteros SPA & Golf Resort (Marbella) and Mimic (Barcelona).

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