Who is really behind the Steigenberger in Camp de Mar? A reality check

Who is really behind the Steigenberger in Camp de Mar? A reality check

A recent report from the United Kingdom connects an Iranian businessman with ownership of several European properties, including the Steigenberger hotel in Camp de Mar. The facts on the ground are fragmentary. The property has been operated by the German Steigenberger group since 2015; the lessee is the company RIMC, and the hotel has 164 rooms. A hotel spokesperson said they had nothing to do with the owner and declined to comment further.

Key question

How reliable are the indications about the ownership structure, and what consequences can the island administration draw without incurring legal risks?

Critical analysis

The report mentions connections through a web of companies in multiple countries and tax havens. Such structures are legally possible but make it difficult to trace the true beneficiaries. That British authorities are said to have frozen parts of a real estate portfolio points to concrete investigations. At the same time, it should be noted that press reporting on ownership does not replace a legally binding finding. On Mallorca, practical responsibility often lies with operators, banks and notaries involved in property transactions. According to the report, there are no official EU sanctions, which complicates coordinated action across Europe. Similar operational problems are discussed in When the Finca Dream Collapses: Serious Questions Over a German Agent in Mallorca.

What's missing in the public debate

There is a lack of transparency about who actually benefits economically from the Mallorcan properties. Public debates tend to focus on headlines about suspected financial flows. Concrete information on land registry entries, corporate entanglements and the timing of ownership transfers is rare. Also little noticed is the role of local service providers — lawyers, brokers, banks — who may have enabled the transactions. Legal explanations of what powers municipalities have to act in such cases also rarely appear. Debates about neighborhood benefits and development, like Palma's New Club de Mar: Luxury, Noise and the Big Question About Benefits for the Neighborhood, underline this gap.

A daily scene from Camp de Mar

In the morning in Camp de Mar, delivery vans roll along the narrow access road to the hotel, the surf quietly taps the rocks, and the gardeners on the golf course still pick dew from the greens. Guests have breakfast on terraces overlooking the bay. For many residents the hotel is an employer, for others part of the townscape. Such everyday impressions are easily lost when the debate focuses only on big names and offshore registers. For an example of attention on big names, see Celebrity Move to Mallorca: Peace or New Controversy at the Golf Course?.

Concrete approaches

1) More transparency on ownership: The Balearics could introduce stronger proof requirements for the official registration of beneficial owners, combined with verification duties for municipalities and hoteliers.

2) Due diligence obligations for operators: Hotel chains and lessees should publish clearer guidelines for vetting investors before contract signing and order independent checks when there is suspicion.

3) Cooperation between authorities: Local authorities, the Spanish central government and relevant EU bodies need binding reporting channels when there are indications of sanctioned or suspicious capital flows.

4) Bank and notary audits: Institutions that transfer funds or process real estate transactions should carry out enhanced KYC checks (Know Your Customer) and report suspicious activity.

5) Social protection for employees: As long as legal uncertainties remain, employees should have access to information about their working conditions and, if necessary, protection mechanisms so they are not the ones to suffer from political disputes.

What is possible locally now

The municipality of Andratx and the island government have limited instruments, but they can review requirements in operator contracts, attach transparency clauses to future concessions and initiate checks when there is well-founded suspicion. Politically and legally sensitive remains the question of how far they can go without hindering ongoing investigations or making legal errors.

Conclusion

Linking an international investor to a hotel on Mallorca is a serious issue that warrants scrutiny. At the same time, the debate must not drown in speculation. For the island this means: better clearing of ownership information, clear due diligence rules for the sector and pragmatic protection for local employees. Only then can Camp de Mar remain a place where guests have breakfast while delivery vans make their rounds — and not a stage for unresolved money flows.