Stoneweg Hospitality, the hotel investment arm of global real estate company Stoneweg, has acquired two hotels in Spain from Globalia Business Corporation, the Spanish tourism group, for €83 million. The investments have been made through a variety of Stoneweg’s discretionary funds and increase the Company’s hospitality exposure by 25%, from 1,281 to 1,691 keys, as well as its weighting to the Balearic and Canary Islands to 62%, a region where record visitor numbers are forecasted in 2023.
La Niña is a 226-room, four-star hotel located in Costa Adeje, Tenerife, 200 metres from Playa Fañabé and Playa de la Pinta. Palace de Muro is a 184-room, five-star hotel in Muro, Mallorca, and is situated directly on Playa de Muro, considered one of the world’s best beaches. Both hotels feature multiple restaurants, bars and pools, as well as a spa and gym, as well as Meetings, Incentives, Conferences and Events (MICE) facilities.
Properties in Tenerife and Mallorca will be repositioned through an international flag following an extensive CapEx programme
Stoneweg Hospitality, which was established in 2021, currently owns a portfolio of seven prime hotels across Spain, which have been, or are in the process of being, repositioned through significant managerial turnarounds, CapEx programmes and reflagging strategies. This includes Alua Menorca, Casa Lit Barcelona or Hard Rock Hotel Marbella, which re-opened in March this year following a comprehensive refurbishment of its rooms & suites, and new common areas such as the Sun Society rooftop pool & restaurant and the show-dinner restaurant Nu Downtown.
