Stoneweg Hospitality, Bain Capital JV makes third hotel acquisition this year

Stoneweg Hospitality and Bain Capital Credit, via their real estate hospitality joint venture, have acquired the Palladium Hotel Don Carlos in the coastal town of Santa Eulalia del Río, Spain. The financial terms and seller were not disclosed.

The four-star hotel has 168 rooms, 32 of which are suites, and is a 20-minute drive from Ibiza airport. The seafront location has direct beach access and is surrounded by mountains, a pine forest and the Santa Eulalia River. Facilities include two restaurants, a bar, gym and swimming pool.

The joint venture plans to reposition the hotel toward a lifestyle concept, opening up the communal areas toward the sea and establishing innovative dining options. Palladium Hotel Group will continue to manage the hotel until the end of the 2022 season, when the renovation of the hotel and management by a new operator will begin.

Miguel Casas, managing director of Stoneweg Hospitality, said, “This is our third hotel acquisition with