Stoneweg Hospitality, the joint venture between Stoneweg and Bain Capital, has reportedly purchased two more Spanish hotels as it continues its acquisition spree in the Mediterranean.
According to Expansión, the pair are buying the Be Live Collection Palace de Muro, in Mallorca and the Be Live Experience La Niña, in Tenerife, for €83 million from travel conglomerate Globalia.
Hyatt is set to take over the operation of both properties and Stoneweg Hospitality will spend €33 million on repositioning.
Hospitality Insights has approached Stoneweg for comment.