Reality and expectations in the hotel industry in Madrid travel different paths. Figures managed by Madrid hotel management indicate that 40% of the hotel plant is not open, with average occupancy levels not reaching 10%. Despite this, the continued arrival of iconic projects in the capital indicates that growth expectations are higher than the current deterioration.
There was a good test yesterday with the announcement of two luxury plans. Mexican company RLH, Turkey bought the Villa Magna Hotel from Docs for 210 million euros (at a record price of 1.4 million euros per room) The Rosewood Group has confirmed that the renovation of the hotel will be completed by the 2021 quarter, with a reopening date. Renovation work will focus on the hotel’s interior, garden, gastronomic offer and the hotel’s new facade and entrance, which will have 154 rooms.. We hope renovations such as Hotel Villa Magna will definitely help make Madrid a standard for luxury tourism in Europe and the world, ”he assured. Borja Escalada, CEO of RLH Properties.
Marriott, the world’s largest hotel company, has announced a second luxury plan, which has been confirmed Presentation of its major innovations for 2021 It is located in the capital of Madrid on a campus adjacent to the Canalejas campus with its luxury brand J.W.
The new establishment will be fully developed by the real estate investment Socimi Millennium Hotel Real Estate, It will have 139 rooms, including two floors, all with outdoor terraces. Plans for public spaces include a lobby bar and restaurant. American Chain currently operates 93 hotels in Spain, most of which are Marriott brand AC hotels.