The Mallorcan chain RIU Hotels, controlled by the Riu brothers, has announced the upcoming reopening of its RIU Plaza de España hotel, located in the square of the same name, in Madrid, just a stone’s throw from Gran Vía.
In June 2017, RIU reached an agreement with the businessman Trinitario Casanova, owner of the Baraka group, to buy this iconic building for 270 million euros. He had just acquired it from the Chinese group Wanda, who gave up on its renovation project to convert the property into a hotel after it had been boarded up for more than a decade.
