The new owners, who bought the establishment for 47 million euros at the beginning of the year, have announced that they will begin work as soon as they have the necessary permits.
The emblematic Los Monteros hotel and its La Cabane beach club in Marbella are set to close for renovations in November, the company has announced. A project to modernise the facilities will begin as soon as all the permits are in place and was already planned by Stoneweg Hospitality and Bain Capital Credit when they acquired the establishment earlier this year.
This was their second investment on the Costa del Sol following the purchase of the Andalucía Plaza in Puerto Banús at the end of 2021, which has been converted into the Hard Rock Hotel Marbella.
Since announcing the purchase of this flagship hotel, the new owners have stated that the aim was to modernise the establishment, which was built in 1962, but with the idea of “maintaining the essence of the hotel».
The five-star complex has 178 rooms, most of which are suites; a large outdoor swimming pool; three restaurants, including El Corzo, the first hotel restaurant in Spain to receive a Michelin star; spa, gym and seven tennis courts and six paddle tennis courts. Los Monteros was one of the first five-star hotels in Spain and has welcomed royalty, musicians and Hollywood stars over the years.
Fabio Longo, CEO of Bain Capital Credit, said, «Using our experience in the Spanish hotel sector, we will be able to gradually modernise this resort to meet the demands of guests and potential operators, while respecting its unique characteristics that have made it a unique and much-loved holiday destination for many years.”