NH to Overhaul the Eurobuilding Hotel

13/10/2014 – Cinco Dias

In 1971, in the middle of the Paseo de la Castellana avenue in Madrid, the Hotel Eurobuilding opened its doors. Soon, it became one of the most popular social event and political summit place, competing with such establishments as the Palace or the Ritz. Once the property turned 40, its owner, chain NH Hotels Group, decided to carry out a thorough overhaul of the building so that it could adapt to the present needs, the group’s CEO Federico Gonzalez Tejera said the aim of the refurbishment was. The works are predicted to consume an amount of €30 million.

The four-star, 431-key hotel located on 15 storeys of a 24-story building, disposes of 7.800 square meters for events, the main source of revenue (25%) of the NH Collection arm of the famous chain.

NH Hotels is planning to install a huge 3-D screen on the facade of the Eurobuilding. Inside of it, at the reception, there is a 300 square meter vault with the LED technology applied, making it the biggest multi-media screen in Europe.

Mr. Tejera sees in the renovation a way to ‘return to the 2007 profits and sales’, apart from a 20% ROI. The hotel group is going to invest €340 million globally in its establishments, out of which an amount of €225 million will be intended for asset repsitioning.

Additionally, the group implemented the LivingLab project in the hotel, providing companies real-time testing of their new technologies. Apart from that, a hotel start-up booster will be set in motion giving a chance to young entrepreneurs to develop their projects.

But the greatest appeal of the refurbishment will be the telepresence system using the holographic technology. Except for the Eurobuilding, the facility will be available in the Nhow establishments situated in Berlin, Milan and Rotterdam.

Together with the bet on the technological appeal of the property, NH decided to invest in its gastronomic offer. Thus, the Diverxo restaurant will be re-opened inside it, a three-star by Michelin David Muñoz. In the close vicinity of the building, also DOMO  by Roncero and Cabrera and 99 Sushi Bar will offer unique taste experience.

Year-to-date, the company has sold 13 hotels in Spain and Italy and refurbished 41 in total.

 

Original article: Cinco Días (by Laura Salces)

Translation: AURA REE

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