Four Seasons Partners to Renovate Historic Buildings as a Luxury Mixed-Use Development
- Mar 07, 2013
Madrid—The Four Seasons has partnered with Grupo Villar Mir’s Inmobiliaria Espacio and Grupo OHL to develop the first Four Seasons hotel in Spain.
The Four Seasons Hotel Madrid will be part of the Canalejas Project in Madrid, Spain, and will expand the company’s portfolio of hotels set in historic buildings, whose origins range from the 15th to the early 20th centuries, in Europe’s most important cities such as Firenze, Budapest, Istanbul, Milano, Paris and St. Petersburg.
Scott Woroch, executive vice president worldwide development for Four Seasons Hotels and Resorts, said: “The confluence of strong partners with these grand buildings is without a doubt one of the finest opportunities for both Madrid and Four Seasons to attract international guests and provide them with an authentic experience.”
The new Four Seasons will be located in the Canalejas complex, a series of heritage buildings, situated adjacent to the Puerta del Sol and within walking distance of Madrid’s city center and major landmarks. The buildings offer street exposure to Canalejas Square, Sevilla Street, Alcalá Street and Carrera de San Jerónimo.
The luxury mixed-use development will feature, alongside the 215-room Four Seasons Hotel Madrid, luxury residences also managed by Four Seasons, a shopping center and a 500-space parking garage. Grupo Villar Mir, through its subsidiaries, is investing around $652 million in the project and according to Juan-Miguel Villar Mir, head of Grupo Villar Mir, the development will generate 4,800 jobs out of which 3,000 direct and indirect permanent jobs. The construction phase is expected to begin at the end of 2013 and the Four Seasons Hotel Madrid is expected to open within the next four years.
“The introduction of the world’s most prestigious hotel brand reinforces Madrid’s position as a venue for major international events,” Villar Mir says.