Hispania Activos Inmobiliarios said it resolved to file for exclusion of its subsidiary Bay Hotels & Leisure SOCIMI from trading on the alternative stock market Mercado Alternativo Bursátil, Reuters reported, citing the company.

The subsidiary, in February, was mulling a delisting from the bourse via several alternatives that included merging with 24% stakeholder Hispania.

Under the plan, the parent hotelier will distribute all shares and quota shares held by Bay Hotels in its subsidiaries, according to the media outlet.

The March 28 report noted that Bay Hotels will continue to gain from the special tax regime of listed investment companies in the real estate market.