VP Finalises Opening of Flagship Hotel in Madrid’s Plaza de España

24 November 2017 – Expansión

The hotel chain, VP, which is going to debut its Design brand in Madrid in Plaza de España in January, is looking to export its model to other European capitals.

Five years after its arrival in Madrid’s Plaza de España, with the purchase of the buildings at numbers 3, 4 and 5, VP is putting the finishing touches ahead of the inauguration of what will be its flagship property in the capital: the VP Plaza España Design.

“Design is the new collection that VP is launching with Hotel Plaza España in Madrid and we hope to expand it to other European capitals soon”, explains Pedro José Alonso, the Director of the Hotel, speaking to Expansión.

This establishment has been built on the foundations of several buildings that were illegally occupied for years and which once housed offices, an aparthotel and the headquarters of Telefónica. VP purchased the assets in 2015, from the liquidated real estate company Monteverde, for €22 million.

After demolishing the old buildings and constructing the new property, work that was carried out by the construction company Tilmón, the family group is now preparing to unveil its flagship hotel, planned for the middle of January, to coincide with the tourism fair (Fitur). “It has been a pharaonic project. We have incorporated some very exclusive designs that we have had to import from other countries and as a result, the construction work has been delayed by a few months”.

The Hotel VP Plaza España Design will have 214 rooms of different kinds spread over 17 floors, as well as a spa, gym, its own car park and a sky bar with 360º views. Moreover, it will have a restaurant on the ground floor leased to Grupo Larrumba. Both the sky bar, Ginkgo, and the restaurant, Botania, will be independently accessible to facilitate entry for clients not staying at the hotel.

This hotel wants to become a benchmark for MICE tourism (meetings, incentives, conventions and exhibitions) and will have 1,400 m2 of space for events. “Madrid needs infrastructure in the heart of the centre for this kind of tourism. The existing supply is located on the outskirts”.

Alonso explains that the hotel, which will employ 150 people, will provide a distinctive artistic and decorative offer with works from Pere Grife and Jan Hendrix.

Regeneration of the area

A few months after the debut of the hotel, the Town Hall of Madrid will begin work to regenerate Plaza de España, which is expected to start in the spring of 2018. “Plaza de España has been a black mark (on the landscape) for several years. I am delighted about the project and we form part of this regeneration work”, he says.

Moreover, the facelift of the central square will happen at the same time as the arrival of large domestic groups such as RIU and international players such as Hyatt and Four Seasons: “Their arrival is excellent news for Madrid. Those brands attract their own tourism; they help us to specialise and raise the bar”.

In terms of prices, Alonso says that rooms will be offered from €220 up to “as much as the client is willing to pay”. And he adds; “Madrid is a city that deserves to have different prices to those on offer until now, which were beneath it. In our case, we have a great building, an excellent location and a commitment to service and people. That will allow us to charge prices commensurate with those of a five-star hotel.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake

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