Bay Hotels & Leisure in a real estate investment vehicle specialized in the acquisition and asset management of hotel assets in Spain. These assets are leased under “SOCIMI” regime (Sociedad Anónima Cotizada de Inversión Inmobiliaria), also known as Real Estate Investment Trust companies (REIT).
Created in June 2014, the Company has as main objective to maximize the returns for its shareholders through active asset management of the acquired portfolio.
The hotel assets included in BAY’s portfolio are primarily vocational hotels and are located in unique locations throughout the Spanish coast including the Canary Islands, the Balearic Islands and the Andalusian coast.
The main shareholders of the company are Hispania Activos Inmobiliarios, SOCIMI, S.A., company listed in the main Spanish stock exchange market and focused on the investments in hotels in Spain, and Barceló Group one of the main touristic groups worldwide.
Bay is registered as a “SOCIMI” (Sociedad Anónima Cotizada de Inversión Inmobiliaria), also known as Real Estate Investment Trust companies (REIT), since September 2015 after the approval from its Annual Shareholder’s Meeting. Through this regime BAY can take advantage of all the fiscal benefits associated to it in order to maximize the value of its portfolio.
BAY is a vehicle externally and solely managed by Azora, an independent private equity management fund, specialized in real estate investments. Founded in 2003, Azora currently has a team of more than 400 professionals, managing assets worth more than 4,300 million euro.