Stoneweg Hospitality picks up 2 Spanish hotels

Stoneweg Hospitality, the hotel investment arm of global real estate company Stoneweg, has acquired two hotels in Spain from Globalia Business Corp., the Spanish tourism group, for €83 million ($92 million).

The investments have been made through a variety of Stoneweg’s discretionary funds and increase the company’s hospitality exposure by 25 percent, from 1,281 to 1,691 keys, as well as its weighting to the Balearic and Canary Islands to 62 percent, a region where record visitor numbers are forecasted in 2023.

La Niña is a 226-room, four-star hotel located in Costa Adeje, 200 meters (656 feet) from Playa Fañabé and Playa de la Pinta. Palace de Muro is a 184-room, five-star hotel in Muro on Playa de Muro beach. Both hotels feature multiple restaurants, bars and pools, as well as a spa and gym and meetings, incentives, conferences and events (MICE) facilities.

After the 2023 summer season, Stoneweg will undertake an extensive capital-expenditure program