• Transaction / Assets
  • Seller
  • Buyer
  • € MM

Messi Buys Hotel Avenida Sofia In Sitges For €30M

8 June 2017 – Expansión

Leo Messi wants to take advantage of the strong performance of the tourism sector and has purchased a 4-star superior hotel in the town of Sitges (Barcelona). FC Barcelona’s striker has paid around €30 million for the building, which has 77 rooms and he has engaged the Majestic Group to manage the establishment. None of the parties involved wanted to confirm the operation, which has been completed with the utmost discretion.

The hotel, recently renamed MiM, is located two roads back from the sea, very close to the beach and to Sitges’ seafront. Specifically, it can be found at number 12 Avenida Sofía, behind Hotel Calípolis and the top floor terrace looks out over the sea. In high season, rooms at the Hotel MiM go for between €250 and €300 per night.

Close to the sea

The town of Sitges, which primarily receives leisure tourists, but which also hosts business meetings, conferences and conventions, is located around 40 km from Barcelona. It is precisely due to its proximity to the Catalan capital and the beach that this coast has been chosen by several football players for their primary residences, including by Leo Messi himself. The Barça star lives in the neighbouring town of Castelldefels, very close to other teammates such as Luis Suárez.

The hotel that Messi has purchased in Sitges was constructed in 2013 and belonged to a local businessman, Francisco Sánchez, who owns other hotels in this tourist town. Until now, the property operated under the name of Avenida Sofía and was managed directly by the previous owner. The property has 77 rooms, including 5 junior suites and one superior suite. It has 300 m2 of meeting rooms, a spa with a hydrotherapy circuit, cabins for couples and oxygen treatments and a rooftop terrace with a swimming pool, bar and panoramic views.

FC Barcelona’s striker recently constituted a new company to invest in hotels and apartments under the name Rosotel. According to the Commercial Registry, in April, the holdling company that channels Leo Messi’s investments, Limecu España 2010, created Explotaciones Rosotel, with the corporate purpose of “operating businesses relating to the hospitality sector, in particular, the management of bars and restaurants, and the acquisition, sale and ownership of hotels and apartments”. The sole administrator of this new company is Limecu, whose president is Leo Messi himself and whose sole administrator is his brother Rodrigo.

This is not Messi’s first investment in the Catalan real estate sector, given that the player already owns the Rostower Building, in El Eixample, Barcelona.

Meanwhile, the family chain that will be responsible for operating the establishment has many years of experience in the hotel sector. The Majestic Group operates six hotel establishments in total, located in Barcelona, Palma de Mallorca and now Sitges, as well as two tourist apartment buildings and six restaurants. Last year, the chain recorded revenues of €44 million, up by 5% compared to the previous year (…).

Original story: Expansión (by Marisa Anglés and Sergi Saborit)

Translation: Carmel Drake