Bain Capital Credit and Stoneweg Hospitality Acquire 384 Room Marbella Hotel….To Become a Hard Rock
Main Photo: The Andalucia Plaza Hotel – to reopen June 2022
Date: June 2021 – Updated November 2021
Location: Puerto Banus, Marbella, Spain
Name: The Andalucia Plaza…to become a Hard Rock Hotel
No. of Keys: 384
Seller: H10 Hotels
Buyer: Bain Capital Credit, LP and Stoneweg Hospitality via their real estate hospitality joint venture, announced the acquisition of the 384-room Andalucía Plaza hotel complex in Marbella, in June 2021, with the aim of renovating the establishment to offer a new hotel experience in one of the best locations on the Spanish coast.
The elegant and bright hotel of Andalusian architectural style is located in the heart of Puerto Banús, one of Spain’s most exclusive destinations for international luxury tourism, and walking distance to the beach, marina, luxury designer boutiques and upmarket bars and restaurants. Golf clubs are a short drive, and combined with destination shopping and events, the Andalucía Plaza is a year-round resort. Facilities of the hotel include 400 guest rooms, several bars and restaurants, swimming pool, multiple meeting rooms, gym and Spa. H10 has historically operated the hotel as adults only.
The repositioning of the hotel will transform this iconic establishment located next to the Casino de Marbella into a unique Lifestyle destination and a centre point for the multiple events that take place throughout the year in Marbella. The works will include the refurbishment the guest rooms, common areas including the lobby, pool, the various F&B outlets and the gardens and outdoor terrace.
The revamped hotel will feature six restaurants and a rooftop bar with infinity pool. On the top floor, a rooftop terrace will be home to a VIP bar and infinity pool with sweeping views of Playa Nueva Andalucía below. There will also be an onsite spa and wellness facility with an indoor heated pool, gym, and a Rock Spa® with six treatment rooms, a sauna and a relaxation room. Additionally, the hotel’s meeting and event space is one of the largest in the Marbella market.
“After the much-anticipated opening of Hard Rock Hotel Madrid this past summer, and the ongoing success of Hard Rock Ibiza and Tenerife, we are thrilled to welcome another beautiful property in Spain to the Hard Rock Hotel portfolio and showcase the brand’s continued growth in the country and globally,” said Todd Hricko, Senior Vice President of Hotel Development at Hard Rock Hotels. “We have long had our sights set on the beautiful Costa del Sol region and are certain the Hard Rock Hotel Marbella will shine in the market.”
The hotel was the first building in Puerto Banús, built in the 1970s. Marbella, with 2,900 hours of sunshine a year, emblematic hotels, almost 30 kilometres of Mediterranean beaches and an exceptional gastronomic offer – it has 8 Michelin-starred restaurants – is a consolidated destination for luxury tourism on a global scale 365 days a year.
“We are extremely excited to bring the Hard Rock Hotels brand into the Andalucía Plaza Hotel,” said Miguel Casas, Managing Director at Stoneweg Hospitality. “It’s always been clear to us that the Hard Rock brand aligns perfectly with both the Costa del Sol and Marbella markets. The hotel’s location in the buzzing Puerto Banús, combined with benefits from capital expenditure investments, poise this property to become a lifestyle point of reference for Costa del Sol that will exceed expectations of our future guests.”
“We are delighted to have acquired this great hotel in such a prime location, in the heart of Puerto Banús on the Costa del Sol,” said Fabio Longo, a Managing Director at Bain Capital Credit. “Our expertise in the Spanish hospitality industry will allow us to invest strategically in the facilities and reposition the venue 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 rising demand of the Costa del Sol.”
Bain Capital Credit is a leading global credit specialist with approximately $44 billion in assets under management. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities, and real estate special situations.
In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.
Stoneweg is a real estate investment adviser and asset manager established in 2015 and headquartered in Geneva, Switzerland. The firm leverages in-house local operational teams to source, develop and manage real estate investments.
To date, Stoneweg has executed and advised on almost €5 billion of real estate investments across different sectors including developments. Stoneweg expertise includes both equity and debt strategies, advising its client base of financial institutions and family offices across a range of structures including club deals, joint ventures, co-investments and funds.
Stoneweg has dedicated presence in Switzerland, the United States, Spain, Italy, Andorra and Ireland, enabling many of the operational aspects of the firm’s investments to be carried out in house and locally. They have completed more than 300 acquisitions alongside best-in-class partners since 2015.
THPT Comment: These two heavyweights have acquired this historic hotel that started it all off in Marbella…look forward to see what they will do with it in 2022..and now we know…It will become a Hard Rock, when the hotel reopens in June 2022
First Seen: A joint press release from Bain and Stoneweg…Update: Europe Real Estatehttps://europe-re.com/new-hard-rock-hotel-to-open-in-marbella-es/69766
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