Main Photo: The Cines Callao building to become a boutique hotel
Date: March 2021
Location: Plaza del Callao, Madrid, Spain
No. Keys: 17 and a cinema!
Owner: The Reyzabel family
Manager/Partner: A new hotel project looms in the centre of Madrid . It is a project for a small boutique hotel that will have only 17 rooms (including a suite) in one of the most well-known points of the capital: the Plaza de Callao.
Behind the project is the hotel firm L&H Hotels, which has reached an agreement with the Reyzábal family to open a new hotel establishment in the building that houses the Callao Cinema , according to El Confidencial.
L&H Hotels have two other hotels in Madrid, L&H La Latina Selection and L&H Gran Via Selection.
The project will involve the conversion of the first five floors of the building, as well as the ground floor, which is currently used as offices , while the famous cinema located a few metres from Madrid’s Gran Vía will not undergo any changes.
The building in Madrid’s Plaza del Callao is the first work of the architect Luis Gutiérrez Soto and was built in 1926 For this reason, the reform to carry out the new hotel must keep intact protected elements of the property such as the facade and the staircase.
After reaching an agreement between owner and manager, the project is currently in the planning consent phase with the aim of opening next year.
The L&H and Reyzábal hotel isn’t the only budding project in the area. The real estate fund Zaka Investments and the Evok hotel group, both owned by Pierre Bastid, acquired at the beginning of last year the building located in Gran Vía, 20 in Madrid, to turn it into a 5-star hotel with 59 rooms.
THPT Comment: As here in the UK where retail can’t succeed, Hospitality will…as long as we keep buildings of this stature in use.
First Seen: BrainsRE
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