New 5* hotel to open near Real Madrid stadium
23 October, 2024Javier Isidro Mosquera, general manager of Ibervalles, has confirmed that they will convert an office building, located at Avenida General Perón 27 in Madrid, into a 5-star hotel. In keeping with our goal of maximising returns for our investors, we have decided to transform the office property into a luxury hotel that will be a landmark in the capital,” he said.
According to the company, the 7,020 m2 building is distributed over 13 floors and has 63 parking spaces. Ibervalles will hire an international architect for the construction of the future establishment, and has already contracted CBRE for the search of a hotel operator. The asset, which until 2023 was owned by Allianz, will be converted into accommodation with a sustainable approach.
The decision for this conversion responds to the fact that “Madrid is experiencing an unprecedented hotel boom, driven by the urban and tourist renewal of the city”, commented Mosquera, remarking that for Ibervalles “it is essential to adapt to the new demands of the sector, taking advantage of the opportunities offered by the growing interest in tourism”.