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North American private equity firm Bain Capital Credit and Swiss real estate investor Stoneweg Hospitality have acquired the 400-room Andalucía Plaza hotel in Marbella, Spain for a reported €100 million (€250,000 per room) from local owner operator H10 Hotels. Located within the prestigious Puerto Banús area of Marbella, the property was one of the first hotels built in Marbella and includes several bars and restaurants, a swimming pool, multiple meeting rooms, a gym and a spa. The new owners plan to extensively renovate the property, and the seller will continue to operate the hotel until the end of this year.
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