Cheyne Capital has announced a €63.3 million ($69.44 million) funding partnership with Bain Capital Credit and Stoneweg Hospitality to support the acquisition and redevelopment of the Andalucia Plaza Hotel in Marbella, Spain.
The 400-room hotel has two restaurants, three bars, eight meeting rooms and two swimming pools.
The new owners plan a refurbishment plan to preserve much of the hotel’s existing building fabric to minimize the environmental impact of the works being carried out.
David Renshaw of Cheyne Capital said, “The hotel sector is rebounding strongly from the pandemic, and we continue to see attractive opportunities, such as this, where our expertise in providing loans for complex development projects can be best applied. We are pleased to support Bain Capital and Stoneweg in their efforts to regenerate the beautiful Andalucia Plaza hotel into a new destination hotel led by Hard Rock, and to reinforce Cheyne’s commitment to the Spani
