Tag: Calle Barquillo

Madrid’s Gran Vía To Be Part Pedestrianised By 2019

10 November 2017 – Expansión

On 4 April 1910, King Alfonso XIII seized a silver pick to symbolise the start of the construction of Madrid’s Gran Vía. It took 21 years to finish the 1,306m long thoroughfare, which, as well as connecting the east and west of the capital, became a showcase for large department stores (today’s multi-nationals fashion chains), cinemas and theatres (of which less than half of the original spaces are now left) but, above all, a catwalk for passers-by of every kind; because Gran Vía is a concentrated example of the 21st century society.

And this road is going to be subject to construction once again from February next year, with the aim of restoring value for two of its major stars: the pedestrians and the historical buildings that stand tall on this street, which we barely have time to appreciate given the frenetic pace of life today.

This change will undoubtedly have consequences for the real estate market in this area, which is already quite unusual. “It is a neighbourhood with just a few, very special homes and so logically, they are going to go up in value significantly”, says Julio Rivero, real estate consultant for the central region at Engel & Völkers.

For Daniel Díaz, architect and agent at Lucas Fox in Madrid, “giving pedestrians more space is something that is being done in all of the major cities in Europe. It makes a lot of sense on Gran Vía because it has more people walking along it nowadays than it does vehicle traffic”. Díaz recalls the case of Serrano and how the reduction in the number of lanes and the widening of the pavements there has been a revulsive, improving trade in the area.

Expansive effect

Gran Vía has so much force that it magnetises the area, and almost twenty streets flow into it, with a lot of life of their own, such as San Bernardo, Valverde, Fuencarral, Hortaleza and Barquillo. The manager at Lucas Fox predicts that this reactivation will have a porous effect: “The benefits of pedestrianisation are going to expand to the adjoining streets and squares, such as Plaza de Pedro Zerolo and Calle Fuencarral, which have more homes that are going to go up in value”. For Díaz, this will attract the domestic market to the area once again, which has been dominated by tourists and young people in recent times.

Although none of the experts consulted doubts that the quality of life will improve, it is clear that some people will inevitably lose out. Ana Calderón, Director of Real Estate at Home Select, the real estate consultancy that manages several tourist apartments in the area, indicates the damage that the limitations on traffic will have for properties owners in buildings such as Gran Vía 48; they also purchased parking spaces in a large underground car park there (…).

The Town Hall’s future project has been explained in several different ways (…) and the details of the plans have not been completely defined, but it seems certain that the current six lanes will be reduced to four. In this way, the 55,000 vehicles that currently travel on this thoroughfare every day will be reduced to just 10,000, according to the Town Hall’s forecasts (…).

According to Sergio Fernández, Director of Retail at JLL, the changes will have a clear beneficial effect for shops, above all due to the plan to widen the pavements, which will be undertaken to resolve the severe pedestrian (traffic) jams that the street suffers from on the weekends and during peak shopping times (…).

The new face of Gran Vía will require an investment of €9 million and is likely to be ready by the spring of 2019.

Original story: Expansión (by Loreto Ruiz-Ocaña)

Translation: Carmel Drake

Palladium Opens 2nd Only You Hotel In Madrid

14 November 2016 – Expansión

Only You has come a long way since the end of February, when Abel Matutes Prats first introduced the future Hotel Only You Atocha and the project was still a building site. Now the scaffolding has been removed, and the second hotel owned by the brand that belongs to the Palladium Hotel Group is ready to go.

The establishment is expected to be opened within the next few days – definitely before the end of November – to join the firm’s other Only You property on Calle Barquillo in Madrid. This new hotel, located on Paseo Infanta Isabel, will have 206 rooms (192 doubles and 14 suites).

Designed by Lázaro Rosa-Violán

The interior designer Lázaro Rosa-Violán has worked with the Matutes family once again and has made the property its own. The firm has created an industrial environment, with old fashioned tiled floors, cobblestones, retro styles and multi-spaces, all under one roof.

The lobby, restaurant and reception all merge into one and are full of typical Rosa-Violán features. (…). In this vein, the hotel will house a retro American-style gym, which will offer a personal trainer service and running club.

Here, one sometimes feels that one is not in a hotel, but rather in a fashion store. A sensation sought and found. The dream of any hotel is to turn its restaurant into a pilgrimage destination, even for non-guests. Hotel Only You Atocha will have its own Trotamundos restaurant, with the gastronomy of chef Javier Mora, alongside Jon Giraldo and Jaime Liebermande (chefs from Spoonik in Barcelona), who will present a mixture of cuisine from Latin America, Asia and Spain.

The bar will also be large, and will offer a comprehensive wine list and cocktail menu. There will be a Mamá Framboise (cake and pastry) stand in the lobby of the hotel, with recipes from Alejandro Montes.

The top floor will house a Youniverse restaurant, which will serve breakfast. The space has different corners and themed trolleys with tables both inside and on the terrace. In addition, the hotel has a well-appointed treatment room managed by Caroli Natura Bissé and adaptable meeting rooms for events. (…).

Only You Hotel Atocha is located opposite the train station of the same name.

Original story: Expansión (by Nerea Serrano)

Translation: Carmel Drake

Palladium & ECI Consider Rebranding Valencia Hotel Under ‘Only You’ Ensign

7 March 2016 – Expansión

The Palladium Hotel Group and El Corte Inglés are considering converting Hotel Ayre Astoria, acquired in 2006 for around €36 million, into an Only You branded establishment.

Located in the heart of Valencia, the Ayre Astoria Palace has 204 rooms and, due to its size and location, is emerging as the most likely candidate to form part of the new ensign that the family chain, owned by the former Minister of Foreign Affairs and the retail group, which each hold a 50% stake. Currently, the urban Only You brand has one property on the Madrilenian street of Calle Barquillo, and in the next few months, it will add a new hotel in Atocha, with 206 rooms.

The hotel chain’s strategy includes establishing this premium brand in other Spanish cities, where it already has assets that could be converted into Only You properties, before setting its sights on growth overseas. Specifically, its internationalisation plans include expanding into the main European capital cities, as well as making the leap across the Atlantic (to Latin America and the USA). The plan is to complete these three stages over the next five years.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake

Palladium Strengthens ‘Only You’ With New Hotel In Madrid

24 February 2016 – Cinco Días

The Palladium group is strengthening its presence in Madrid with the launch of a second Only You hotel. The four-star property, located opposite Atocha train station, will have 206 rooms and is expected to open its doors in June.

The hotel is following in the footsteps of the first Only You hotel, located on Calle Barquillo in Madrid, which has become one of the iconic boutique establishments in the city. “We want to operate a dynamic model under the umbrella of the Only You chain, to serve both a hotel with 100 rooms, as well as one with 250 rooms”, said Juan Serra yesterday, the CEO of Only You and Ayre Hoteles, the urban division of the Palladium group, in which El Corte Inglés holds a 50% stake and which recorded double digit growth figures last year.

In this way, the Group has established a period of between six and ten months to analyse the evolution of its brand and begin its expansion. To drive its growth, Palladium will evaluate the conversion of some of its hotels, possibly including its property in Valencia, as well as its management model. According to Abel Matutes Prats, the CEO of Palladium, the group may also extend its brand “to several Spanish and European cities over the next five years, and we are not ruling out certain Latin American capital cities”. “We have built the foundations for growth and that is what we intend to do”, said the executive.

The future hotel, which will employ around 60 people, has received an investment of around €38 million, to finance the purchase of the property and its renovation. The opening of the establishment will also coincide with the extension of the hotel on Calle Barquillo, to include 55 new rooms.

The Palladium group, which recorded revenues of more than €500 million last year, is also working on the construction of its second Hard Rock Café, in Tenerife, where it will invest around €80 million and which is expected to be ready in November. Moreover, it will spend another €700 million on three hotels in Cancun, one of which will operate under the Usuahïa brand. This growth is being financed primarily using own funds.

Abel Matutes also acknowledged that the company is currently evaluating the Socimi (company structure) formula, at a time when the group owns all but three of its hotels, but he highlighted that this analysis is at “an embryonic stage”. And he said that the group will focus its investment on America over the next few years.

Original story: Cinco Días (by Laura Salces)

Translation: Carmel Drake

Matutes To Expand Hotel Only You In Madrid

28 January 2015 – Expansión

Palladium, the hotel chain owned by the former minister and businessman Abel Matutes is strengthening its commitment to Madrid by expanding its Hotel Only You. The success of the boutique hotel, which opened its doors in 2013 and is located in Calle Barquillo, has encouraged the company to lease the adjoining building, which will allow it to add 50 rooms taking hotel’s capacity to 125 rooms in total; nine of these will be suites.

In 2014, Palladium recorded turnover of €429 million, an increase of 10% on the previous year. The hotel chain, which brings together 50 hotels and 14,000 rooms, will invest €80 million in three hotel projects this year, covering 1,280 rooms. In May, it will open the Grand Palladium White Island Resort & Spa in Ibiza. This will be followed by the opening of two new hotels between 2015 and 2016: one under the Ayre brand in Madrid, opposite the Atocha train station and the other, the Hard Rock Hotel in Tenerife.

Original story: Expansión (by Y. Blanco)

Translation: Carmel Drake