The Palace, an iconic hotel in Madrid, completed a comprehensive €90 million renovation after nearly two years of work. The restoration, which began in mid-2023, concluded in early 2025 and transformed the historic building while preserving its original architectural grandeur. The hotel reopened under the name The Palace, a Luxury Collection Hotel, Madrid, marking its integration into Marriott International’s Luxury Collection portfolio.
A century-old landmark, modernized
Located in the heart of Madrid, The Palace has served as a landmark since its original opening in 1912. The extensive refurbishment included restoring the historic façade, modernizing 470 guestrooms and suites, and upgrading public spaces with contemporary design elements blending with the building’s Beaux-Arts style. Ownership and management rest with Archer Hotel Capital, which spearheaded the project from 2022, focusing on meticulous preservation alongside modernization of the lobby, dining areas, and event spaces.
What the renovation preserved — and what it added
Public access areas such as ballrooms, restaurants, and lounges showcase the renewed decor, combining classic elegance and modern refinement. The project maintained original architectural details, including ornate moldings, marble finishes, and expansive windows, while integrating updated lighting systems, furnishings, and technological amenities.
With its reopening, The Palace positioned itself firmly as a premier destination for both international travelers and local events, supporting its role as a social and hospitality hub for the city. The restoration project highlighted the balance of preserving a distinctive historic monument while adapting it to contemporary luxury hotel operations, drawing attention across the hospitality industry as an example of successful historic hotel revitalization in Europe.
