Stoneweg Hospitality, the hotel division of the real estate investment platform Stoneweg, has acquired two hotels in Mallorca and Tenerife from Globalia Business Corporation, the Spanish tourism group, for 83 million euros.
The investments have been made through various Stoneweg discretionary funds and increase the company’s hotel offer by 25%, from 1,281 to 1,691 rooms, as well as its presence in the Balearic and Canary Islands to 62%, a region where it expects a record number of visitors in 2023.
La Niña is a four-star hotel with 226 rooms located in Costa Adeje, Tenerife, 200 meters from Playa Fañabé and Playa de la Pinta. On the other hand, Palace de Muro, with five stars and 184 rooms, is located in Muro (Mallorca), on the beachfront of Playa de Muro, considered one of the best in the world. Both hotels have multiple restaurants, bars and swimming pools, as well as a health spa and a gym, as well as facilities for meetings, incentives, conferences and events.
Stoneweg Hospitality currently has a portfolio of seven first-class hotels in Spain, which have been repositioned, or are in the process of being repositioned, through major management changes, CapEx programs and reflagging strategies.
This includes Alua Menorca, Casa Lit Barcelona or the Hard Rock hotel Marbella, which reopened its doors in March of this year after a major refurbishment of its rooms and suites, and new common areas such as the Sun Society rooftop pool and restaurant and the Nu Downtown show-dinner restaurant.
The Spanish hotel sector continues to recover strongly from the covid-19 pandemic and this year the country is expected to receive a record number of 85 million foreign visitors, exceeding the previous maximum of 83 million established in 2019 This represents an increase of 17% compared to 2022, when 71 million foreign travelers visited Spain.
Miguel Casas, basic director of Stoneweg Hospitality, assures that the purchase operation “was a unique opportunity to establish a footprint in two of the highest performing hotel destinations in Spain, a market where the tourism sector has enjoyed an unprecedented post-covid rebound, and add two assets that complement our existing high-quality portfolio. In line with our actual strategy, our highly experienced team will enhance and reposition assets to generate additional returns through the creation of differentiated products from a concept and brand standpoint.”
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