Stoneweg and Bain Capital complete sale of Mongibello Ibiza Hotel

A joint venture between Stoneweg Hospitality and Bain Capital has finalised the sale of the Mongibello Ibiza hotel to Grupo Ramat, a private hospitality and real estate investment platform, and a consortium of private investors.

Mongibello Ibiza

Originally acquired by the joint venture in 2022 as part of a €400 mln value-add hospitality portfolio, the Santa Eulària des Riu property underwent an extensive refurbishment and repositioning programme managed alongside Concept Hotel Group.

Following the acquisition, Grupo Ramat will retain Concept Hotel Group from its portfolio to manage the property, maintaining its established brand identity.

The 168-room beachfront lifestyle hotel, which features 32 suites and a distinctive 1960s–1970s Italian-Mediterranean cinematic theme, has become a prominent fixture in Ibiza’s premium hospitality market, offering curated dining, leisure, and cultural events.

Miguel Casas, managing director of Stoneweg Hospitality, commented: “This transaction reflects the successful execution of our value-add strategy and our ability to identify and reposition assets with significant potential, delivering long-term value. Mongibello Ibiza is the result of a clear investment thesis delivered alongside strong partners.”

Francisco Bello, an operating partner at Bain Capital, added: “Mongibello Ibiza is an excellent example of the value that can be created when a clear vision is combined with strong execution. We saw an opportunity, during the Covid dislocation, to aggregate high-quality assets in core touristic markets across Southern Europe. Together with Stoneweg, we have supported the transformation of this asset into a hotel with a unique identity and a differentiated position within the Balearic hospitality market.”

Marc Rahola, CEO of Grupo Ramat, commented: “Mongibello Ibiza is a truly unique asset distinguished by its character, location and positioning within the island’s hospitality market. Its distinctive identity and the repositioning carried out over recent years have made it a highly attractive opportunity for our investment strategy”.

CBRE advised on the transaction.