Bain Capital Credit and Stoneweg eye Selenta hotel chain

Beach in Tenerife

Bain Capital Credit and Stoneweg are reportedly in pole position to acquire the Spanish hotel group Selenta.

The pair have offered €460 million for the chain, which has around 2,600 rooms located at properties in Tenerife, Barcelona, Marbella and Valencia.

The story in the newspaper El Economista said that Goldman Sachs and Brookfield were also in the running and that Selenta may stay on as a tenant.

Like others in the hospitality industry, Selenta has struggled with drastically reduced tourism demand and in February La Vanguardia reported that the company turned to the Spanish state-owned industrial holding company Sociedad Estatal de Participaciones Industriales (SEPI) for a €50 million loan.

Bain and Stoneweg have been pretty active in recently and bought the 400-room Andalucía Plaza hotel complex in Marbella earlier this month.