Stoneweg and Bain purchase the Don Carlos Hotel in Ibiza for €50M

Stoneweg and Bain purchase the Don Carlos Hotel in Ibiza for €50M

The alliance between the two investment groups has led them this time to the acquisition of the Don Carlos hotel, an establishment with 168 rooms and four stars very close to the municipality of Santa Eulalia.

The hotel is owned by the Palladium group, which is currently finalizing its transfer for around fifty million euros, according to sources familiar with the operation. Presumably, Palladium will continue to manage the hotel. This is the fourth co-investment in the hotel sector of the Stoneweg alliance with Bain Capital, which to date has allocated close to 220 million euros to the purchase of hotel establishments.

The first joint operation was closed last spring with the acquisition for more than one hundred million euros of the H10 Andalucía Plaza Marbella hotel, an establishment with 400 rooms and a four-star category. Currently, the hotel is in the process of being renovated and Stoneweg-Bain's plans include a change of operator that will open the management of the complex to Palladium.

Recently, the two groups have closed the purchase of the Mimic hotel in Barcelona for twenty million euros and Los Monteros in Marbella for 47 million. This last establishment, which has 92 rooms and four stars, will be renovated and will be operated by an international group.

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