RIU Hotels & Resorts has signed a strategic partnership with the Baraka business group to take part in the ownership and renovation of the emblematic Edificio España on Madrid’s Plaza de España, to open a hotel of the Riu Plaza line. The hotel chain from Mallorca and Baraka have created a joint venture in which RIU holds a 25% share. The agreement signed recently between the two companies also includes a contract for management of the hotel, which is expected to be inaugurated in two years’ time, following completion of the renovation works.
For RIU, this project represents an incursion into Spain’s urban hotel market, a longheld desire for the company that could not materialize until finding such an excellent opportunity and location. The new Riu Plaza will occupy 24 floors of the 27-storey Edificio España, while the rest will be designated for commercial use; it will have approximately 650 rooms and a 4-star category. The project, which is in the final design stages, will also include over 1,800 square meters of space for events, including a 1,500-square meter open hall with a height of six meters, making it a unique space in the heart of Madrid. It will also have two restaurants, a swimming pool on the roof, which will also be the site of the Sky Bar and another 900 meters of additional space for events.
With all these amenities, in addition to its central location, RIU hopes to attract leisure travelers visiting Madrid to enjoy shopping and cultural visits, as well as corporate travelers.
RIU currently has six Riu Plaza hotels around the world. The first one opened its doors in Panama City in 2010, and since then has been joined by the Riu Plaza Guadalajara in Mexico, the Riu Plaza Miami Beach and Riu Plaza New York Times Square in the United States, the Riu Plaza Berlin in Germany and, more recently, the Riu Plaza The Gresham Dublin in Ireland.
Will this new Riu Plaza hotel in one of Madrid’s prominent historic structures inspire you to take a trip to Madrid?