Four Seasons to Develop First Hotel in Spain
The portfolio of Four Seasons hotels set in historic buildings in Europe’s cities is expanding again with the development of the Canalejas Project in Madrid, Spain. With a planned opening within the next four years, the hotel will be the company’s first in Spain. READER COMMENTS
“As Four Seasons continues its expansion into the world’s most desirable destinations, Madrid has long been on our wish list,” says Scott Woroch, executive vice president worldwide development for Four Seasons Hotels and Resorts. “With a proven track record of development success, operational excellence, and a strong capital base, the team of Grupo Villar Mir, Grupo OHL and Four Seasons is uniquely placed to create a spectacular property in Madrid. 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 housed in the series of heritage buildings comprising the Canalejas complex, adjacent to the Puerta del Sol and an easy walk to Madrid’s major landmarks.
Following careful repairs, sensitive restoration, and modern renovations, Four Seasons Hotel Madrid will offer 215 guestrooms and share a shopping center and 500-space parking garage with the rest of the mixed-use project. Following the planning process, construction is projected to begin at the end of 2013.
Grop Villar Mir is investing EUR 500 million in the project. "The development project will contribute significantly to the reactivation of the local labour market, generating 4,800 jobs, including 1,800 during the construction stage and 3,000 direct and indirect permanent jobs," said Juan-Miguel Villar Mir, head of Grupo Villar Mir.