RIU Hotels & Resorts has signed a strategic partnership with the Baraka business group to to open a hotel of the Riu Plaza line in the emblematic Edificio España on Madrid's Plaza de España. The agreement signed recently 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 TUI’s hotel brand RIU, this project represents an incursion into Spain's urban hotel market. 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, the TUI subsidiary hopes to attract leisure travelers visiting Madrid to enjoy shopping and cultural visits, as well as corporate travelers. "We are very excited about this new project. It will not only signify our Riu Plaza brand’s début in Spain but will also be a worldwide reference thanks to its excellent location on Madrid's Gran Via and the singular nature of the Building", affirmed Carmen and Luis Riu, the CEOs of RIU Hotels & Resorts.
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 Gudalajara 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.