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Paris, London, Milan, and now Madrid. Indeed, the Spanish capital is getting a facelift by unveiling new infrastructures as well as ever more luxurious establishments.
After the pandemic, tourists gradually returned to Madrid, while discovering the new image of the city. Safer, cleaner, and more beautiful. A revival that was part of the capital’s plan to attract five-star hotel chains, most of which are concentrated in Europe, Paris, London and Milan.
From now on, Madrid has become the new “place to be”, and luxury hotels are flourishing throughout the city center. The Four Seasons group opened a hotel near the center of Puerta del Sol following the renovation of seven buildings.
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Marriott International, for its part, began renovations during the pandemic, and began last June to redevelop the Westin Palace, opening 400 additional rooms.
“We chose Madrid because it has been underrepresented in the luxury segment for years,” said Richard Brekelmans, Marriott’s vice president for Southern Europe, citing the abundance of art museums, theatres and restaurants in the city as the main attraction.
Universal Music has selected Madrid for the launch of its first five-star hotel.
Madrid is reinventing itself
By the end of the year, Madrid will have more than 2,700 luxury hotel rooms, up 50% from 2013.
The Spanish capital now has 33 new hotels in preparation, half of which are in the upscale segment. For comparison, only 13 projects are planned in Barcelona. Madrid’s hotel investment reached a record 802 million euros in 2022, three times that of Barcelona.
“We have seen great potential. In the US, Madrid was previously unknown,” said Carlos Erburu, managing director of Europe’s first Thompson hotel for Hyatt Hotels Corp (HN), which opened in Madrid in late 2022.
A significant increase
The arrival of luxury properties across the city marked a sharp increase in room prices.
Antonio Catalan, a partner of the Santo Mauro Palace, said the rates for the most expensive rooms had gone from around 400 euros the night before the pandemic to 1,200 euros today. Occupancy remained stable despite room pricing increases, half a dozen hotel managers told Reuters.
“We still have rates half of Paris and below Rome,” added Antonio Catalan.
The new Eldorado of luxury tourism
The number of US visitors to Spain increased by 25% in April, compared to 2019, according to official data.
The gamble on luxury is also reflected in spending. Foreign tourists spent on average 330 euros a day in April in Madrid, double the national average.
“We are looking to capture the most spendthrift international tourists,” said Madrid tourism director Luis Martin.
Airlines are joining the tourist craze. Iberia has expanded its flights to the United States and Latin America this summer by 15%, while Air China has just increased its flights to Madrid.
More tourism means more jobs. In Madrid, employment in the sector has increased by 15%, compared to 5% nationally. Most of this growth is in four- and five-star hotels.
Read also >Saudi Arabia: the new Eldorado of luxury tourism?
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Paris, London, Milan, and now Madrid. Indeed, the Spanish capital is getting a facelift by unveiling new infrastructures as well as ever more luxurious establishments.
After the pandemic, tourists gradually returned to Madrid, while discovering the new image of the city. Safer, cleaner, and more beautiful. A revival that was part of the capital’s plan to attract five-star hotel chains, most of which are concentrated in Europe, Paris, London and Milan.
From now on, Madrid has become the new “place to be”, and luxury hotels are flourishing throughout the city center. The Four Seasons group opened a hotel near the center of Puerta del Sol following the renovation of seven buildings.
Voir cette publication sur Instagram
Marriott International, for its part, began renovations during the pandemic, and began last June to redevelop the Westin Palace, opening 400 additional rooms.
“We chose Madrid because it has been underrepresented in the luxury segment for years,” said Richard Brekelmans, Marriott’s vice president for Southern Europe, citing the abundance of art museums, theatres and restaurants in the city as the main attraction.
Universal Music has selected Madrid for the launch of its first five-star hotel.
Madrid is reinventing itself
By the end of the year, Madrid will have more than 2,700 luxury hotel rooms, up 50% from 2013.
The Spanish capital now has 33 new hotels in preparation, half of which are in the upscale segment. For comparison, only 13 projects are planned in Barcelona. Madrid’s hotel investment reached a record 802 million euros in 2022, three times that of Barcelona.
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Paris, London, Milan, and now Madrid. Indeed, the Spanish capital is getting a facelift by unveiling new infrastructures as well as ever more luxurious establishments.
After the pandemic, tourists gradually returned to Madrid, while discovering the new image of the city. Safer, cleaner, and more beautiful. A revival that was part of the capital’s plan to attract five-star hotel chains, most of which are concentrated in Europe, Paris, London and Milan.
From now on, Madrid has become the new “place to be”, and luxury hotels are flourishing throughout the city center. The Four Seasons group opened a hotel near the center of Puerta del Sol following the renovation of seven buildings.
Voir cette publication sur Instagram
Marriott International, for its part, began renovations during the pandemic, and began last June to redevelop the Westin Palace, opening 400 additional rooms.
“We chose Madrid because it has been underrepresented in the luxury segment for years,” said Richard Brekelmans, Marriott’s vice president for Southern Europe, citing the abundance of art museums, theatres and restaurants in the city as the main attraction.
Universal Music has selected Madrid for the launch of its first five-star hotel.
Madrid is reinventing itself
By the end of the year, Madrid will have more than 2,700 luxury hotel rooms, up 50% from 2013.
The Spanish capital now has 33 new hotels in preparation, half of which are in the upscale segment. For comparison, only 13 projects are planned in Barcelona. Madrid’s hotel investment reached a record 802 million euros in 2022, three times that of Barcelona.
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