Stoneweg and Bain acquire two Be Live hotels in Spain from Globalia
Stoneweg Hospitality, a JV between Stoneweg and Bain Capital, has acquired two Be Live hotels in Spain, the five-star 184-room Be Live Collection Palace de Muro in Mallorca and the four-star 226-room Be Live Experience La Niña in Tenerife, for a reported price of €83 million (€202,000 per room). The seller was the tourism group and owner of the Air Europa airline, Globalia, which is backed by the Hidalgo family. Hyatt is due to operate both properties, and the new owners are expected to spend €33 million on repositioning the properties. Be Live Hotels currently have 29 hotels in their portfolio across Spain, Portugal, Morocco, Colombia, Cuba and the Dominican Republic. This latest purchase by the Stoneweg Hospitality JV follows their 2022 acquisitions of the 168-room Hotel Don Carlos in Ibiza, the 178-room Hotel Los Monteros Spa & Golf Resort in Marbella and in 2021, the 400-room Andalucía Plaza hotel complex in Marbella.