Madrid is having a moment when it comes to hotels. In fact, Madrid is having a moment with tourism in general, boasting a record-breaking number of visitors over the past year. The Spanish capital is now on the same level as Rome, London or Paris and finally catching up to its more sophisticated sister to the north, Barcelona. After many years with a stagnant luxury hotel scene, with the Ritz Madrid and Marriott’s Westin Palace as the two most coveted luxury properties, that’s all changing. Hoteliers are realizing that now is the time to enter the Madrid luxury accommodation market, and will be doing so with gusto throughout 2020.
The movement started when the Hyatt Centric opened in 2017 on Madrid’s very own “5th Avenue” — Calle Gran Vía. Other luxury brands began to take notice, interest brewing among hotels like Park Hyatt, The Peninsula, Six Senses and the St. Regis (all rumored to still be searching for the right property location in Madrid).
The most anticipated new opening is the new Four Seasons Canalejas in 2019. Developers are hinting it could be the most luxurious property in Europe! Complete with interior design by Bamo, the hotel will offer 200 rooms, including an opulent presidential suite. The hotel will also feature a spa and a covered pool, as well as private residences for purchase in case you’d prefer to just stay forever (be prepared to put up over 13,000 euros per square meter, though).
Following the recent Marriott-Starwood merger, the group is now one of the largest and most powerful in the world, is opening a trendy W Hotel near the Puerta Del Sol in 2019. The 141-room property will include 20 suites as well as one Extreme WOW suite, which will surely offer epic views, plenty of space and other special amenities. Not to be left behind among Madrid’s budding rooftop scene, the W Madrid will have a rooftop terrace with swimming pool and bar.
Although the millennial-geared Aloft Hotels aren’t quite on the same level of luxury as the W, Starwood/Marriott has plans to open a branch on Calle Gran Vía in the coming years, steadily augmenting the brand’s presence in Madrid.
Not to be left behind, the antiquated Ritz Madrid, built in 1910, is undergoing a massive renovation to modernize its rooms and amenities. The almost-100 million euro renovation will renew the garden to include a pool and spa, and will raise the roof to include new, luxurious attic rooms — and of course, a Royal suite. The hotel is slated for reopening again in 2019.
The downside of the luxury hotel movement, though, is that the grandeur won’t come cheap. Rooms at the Four Seasons will start at 500 euros per night. Thanks to so many new openings, the hotel prices in Madrid may increase up to 50%, so be prepared. If you’re searching for good rates, it may be best to reserve soon. But if you’re hoping for a splurge, you’ll definitely have more to choose from come 2019.
Plan to pair your luxury hotel stay with an Insider’s Madrid tour, offering curated tours focused on art, museums, shopping, cuisine, wine, flamenco or all of these combined.