Purchase of Hotel Reina Victoria rekindles optimism in Madrid's economy
In the heart of Madrid, the bustling Plaza Santa Ana has witnessed a significant change. The iconic Reina Victoria Hotel, once a symbol of international hospitality, has closed its doors after two decades under the ME by Meliá brand.
Built as a modern symbol of hospitality, the hotel was known for its multicoloured LED lights that adorned its windows, attracting global travellers and celebrities. However, over the years, it descended into an Instagram-worthy corporate tourist trap, offering substandard service and food, much like a popular TV chef's venue in Gran Via.
The hotel's decline wasn't just a matter of poor management; it was a reflection of the over-tourism that has plagued Madrid for several years. The Reina Victoria Hotel, historically known as the "hotel of the bullfighters," had been transformed into a short-term profit venture, presenting a false image of authentic Madrid.
The end of operations at the Reina Victoria Hotel marks a potential change in the capital city. The ME Madrid Reina Victoria hotel was sold to the Abu Dhabi sovereign fund, together with Accor, the sixth-largest hotel group in the world. After renovation and liquidation of furniture in 2025, the hotel will reopen under the Hoxton hotel brand.
The change is not limited to the hotel itself. La Vinoteca, a wine bar directly in front of the Reina Victoria Hotel, was sold to an international corporation. Once boasting over 100 wines, it now offers only "red" or "white". The "wrong management" wasn't just confined to the hotel, but also affected La Vinoteca.
However, hope exists for Plaza Santa Ana to reclaim its authenticity and classiness. The new owner of the Reina Victoria Hotel has the potential to bring back its classiness and stature. In the past, Plaza Santa Ana was a place for local families, neighbours, and art lovers. With the right management, it could once again become the vibrant and authentic heart of Madrid that it once was.
As the Reina Victoria Hotel undergoes its transformation, the eyes of Madrid watch with bated breath. Will the new era bring about a change for the better, or will it continue the trend of over-tourism and commercialisation? Only time will tell.
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