New airs could come to the hotel MiM Ibiza, owned by soccer player Leo Messi. A few days ago, the socimi (a public limited company listed for investment in the real estate market) of the player, Rostower Building, already listed on the stock exchange.
In its portfolio of assets, Rostower Building has six MiM hotels managed by the operator Majestic in Andorra, Baqueira, Ibizamallorca, Sitges and Sotogrande and an additional hotel in the Aran Valley. In addition, the brand has a building six-story building in Barcelona with 4,000 square meters of office space, business premises and parking spaces; a warehouse of 2,500 square meters in the Catalonian town of Sitges rented by a chain of supermarkets and a restaurant luxury restaurant in Castelldefels.
and what does it mean for the hotel in Ibiza that Messi’s company has started trading on the European Stock Exchange Portfolio Stock Exchange with a capitalization of 223 million euros? Well, it could mean improvements for the Ibiza hotel. “This move reinforces our proposition for the full spectrum of capitalizations and business plans, the elimination of intermediaries, time and cost efficiencies coupled with better technology and better service, is a value proposition that clients appreciate,” said Portfolio Stock Exchange CEO, Santiago Navarro. But it also has tax benefits.
Messi, president of the socimi
Edificio Rostower’s stock market debut comes shortly after it was made public that Lionel Messi has taken over the presidency of this company after its transformation into a socimi, a legal figure that offers tax benefits for companies dedicated to the rental of real estate. Antonela Roccuzzo, the soccer player’s wifeoccupies the first vice-presidencywhile economist Ramón Adell and lawyer Alfonso Nebot complete the board of directors.
The transformation of Edificio Rostower into a socimi was unanimously approved last December 11 and ratified in the Official Gazette of the Mercantile Registry (BORME) on December 27. This decision marks a milestone in the wealth strategy of Messi, who since 2017 has consolidated his foray into the hotel and real estate investment sector with a strategic alliance with Majestic to manage the MiM chain.
Some sources point out that Leo Messi’s intention with this corporate movement would be to to group in a single vehicle all his real estate investments, which will allow him to benefit from the favorable tax regime that covers the socimisa type of company similar to the Anglo-Saxon REIT (Real Estate Investment Trust) that pays only 1% in corporate income tax, with the condition of distributing at least 80% of its profits in dividends. This is a formula created in Spain in 2009 and which has been under discussion recently, since the PSOE and Sumar presented a proposal for them to be taxed at 25% instead of 1%, although it did not go forward.
For the full article, please visit Diario de Ibiza website here.