EXTENDAM and Continuum Hospitality Group are set to develop a new ibis red hotel in Madrid's Las Tablas district, scheduled for completion in 2025, targeting the underserved budget accommodation sector.
Target Information
The project entails the development of a new-generation ibis red hotel, scheduled to open in 2025 in the Las Tablas district, located in the northern part of Madrid. This two-star hotel, executed by EXTENDAM in collaboration with Continuum Hospitality Group, will feature 148 rooms spread across six floors, along with a lifestyle-themed lobby. The hotel aims to cater to both business travelers and those seeking budget-friendly accommodations.
Spanning an area of 4,300 square meters, this economic hotel will operate under the ‘Square’ concept, which emphasizes an expansive open space that combines the lobby, café, and reception lounges. Guests will enjoy multifunctional rooms that blend stylish aesthetics with comfort, making it suitable for both work and leisure.
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Industry Overview in Spain
Spain has become a vital strategic location for hospitality investments, given its robust economy and vibrant tourism sector. The Spanish hotel market is characterized by a significant presence of four-star and fi
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