Stoneweg Hospitality (‘Stoneweg’), the resort funding arm of world actual property firm Stoneweg, has acquired two resorts in Spain from Globalia Enterprise Company, the Spanish tourism group, for €83 million. The investments have been made by way of quite a lot of Stoneweg’s discretionary funds and improve the Firm’s hospitality publicity by 25%, from 1,281 to 1,691 keys, in addition to its weighting to the Balearic and Canary Islands to 62%, a area the place report customer numbers are forecasted in 2023.
La Niña is a 226-room, four-star resort situated in Costa Adeje, Tenerife, 200 metres from Playa Fañabé and Playa de la Pinta. Palace de Muro is a 184-room, five-star resort in Muro, Mallorca, and is located straight on Playa de Muro, thought-about one of many world’s greatest seashores. Each resorts characteristic a number of eating places, bars and swimming pools, in addition to a spa and health club, in addition to Conferences, Incentives, Conferences and Occasions (MICE) services.
Following the 2023 summer time season, Stoneweg will undertake an in depth CapEx programme to refurbish and reposition the resorts.
Stoneweg Hospitality, which was established in 2021, presently owns a portfolio of seven prime resorts throughout Spain, which have been, or are within the technique of being, repositioned by way of important managerial turnarounds, CapEx programmes and reflagging methods. This contains Alua Menorca, Casa Lit Barcelona or Laborious Rock Resort Marbella, which re-opened in March this 12 months following a complete refurbishment of its rooms & suites, and new widespread areas such because the Solar Society rooftop pool & restaurant and the show-dinner restaurant Nu Downtown.
The Spanish hospitality sector continues to recuperate strongly from the Covid-19 pandemic and this 12 months it’s predicted that the nation will welcome a report 85 million overseas guests, surpassing the earlier highest of 83 million set in 2019[1]. This is a rise of 17% on 2022 when 71 million overseas travellers visited Spain[2].
This was a uncommon alternative to determine a footprint in two of Spain’s prime performing hospitality locations, a market the place the tourism sector has loved an unprecedented post-Covid rebound, and add two property that complement our current high-quality portfolio. Whereas already providing sturdy fundamentals in their very own proper, in step with our current technique, our extremely skilled workforce will improve and reposition the property so as to generate extra returns by way of the creation of differentiated merchandise from an idea and branding perspective. Miguel Casas, Managing Director of Stoneweg Hospitality
About Stoneweg
Stoneweg (www.stoneweg.com) is an actual property asset supervisor and funding advisory group established in 2015 and headquartered in Geneva, Switzerland. The Group depends on native working groups to establish, develop and handle actual property investments across the World. So far, Stoneweg has invested greater than €5 billion in actual property in numerous sectors together with residential, business, logistics and hospitality. Stoneweg’s experience lies in each fairness and debt funding methods. Its shoppers embrace monetary establishments and household places of work that spend money on quite a lot of buildings, together with membership offers, joint ventures and co-investments. Stoneweg Hospitality (established in 2021) owns and manages a portfolio of prime resorts in Southern Europe, which have been, or are within the technique of being, repositioned by way of important managerial turnarounds, CapEx applications and reflagging methods. With greater than 140 workers, Stoneweg is current in Switzerland, america, Spain, the UK, Eire, Andorra and Italy. Since 2015, Stoneweg has accomplished greater than 300 acquisitions alongside best-in-class companions.
