Tuesday, November 24, 2020
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Stoneweg Buys 2 Hotels and Tourist Complexes in Menorca

Apple Leisure Group will manage the 5 assets, which comprise two 4-star hotels, two apartment complexes and one beach club.

The five establishments will operate under AMResorts’s Alua Hotels & Resorts brand, which is ALG’s hotel brand manager. Stoneweg plans to renovate the properties to adapt them to the standards of AMResorts with an investment of 10 million euros, and with the aim of starting operations in 2021, according to information provided by the Apple Leisure Group.

The operation comes at a time of acute crisis in the tourism and leisure sectors, which is hitting Spain especially hard, but which is attracting investors in search of opportunities.

Read the full article in Spanish.

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