EXTENDAM and Continuum Hospitality Group are set to open a new ibis red hotel in Madrid's Las Tablas district in 2025, strategically catering to the growing demand for budget accommodations in a market primarily consisting of higher-end hotels.

Information on the Target

A new generation ibis hotel is set to open in 2025 in the Las Tablas district, located in the northern part of Madrid. This establishment, financed by EXTENDAM and Continuum Hospitality Group, will occupy a prime location in the heart of the Spanish capital’s business zone. The budget-friendly hotel will feature 148 rooms spread across six floors, showcasing a lifestyle-themed lobby.

With a substantial footprint of 4,300 square meters, this investment will conclude during the first half of 2025. Operating under the ibis red brand, the hotel will adhere to the contemporary 'Square' concept. This design features an expansive open space that combines the entrance hall, café, and reception lounges, ensuring a seamless experience for guests who can enjoy multifunctional rooms designed for both work and relaxation.

Industry Overview in Spain

The Las Tablas district is currently experiencing significant real estate development, both residential and commercial. Strategically positioned at a critical communication junction between the airport and the city, it is part of one of Europe’s