The Mercer Hoteles hotel chain is preparing to open its new Grand Luxe hotel in the heart of the Jerónimos neighborhood in fall 2025.
Madrid, 19 March 2025 – Alting Real Estate Group, the owner of the property at 5 Ruiz de Alarcón Street, in the heart of the Jerónimos neighborhood, and the prestigious Mercer Hoteles chain have reached an agreement to turn this asset into an exclusive five-star Grand Luxe hotel. This project will strengthen Madrid’s position as a benchmark destination for international luxury tourism.
With this new hotel, Mercer Hoteles is taking its first steps in Madrid with Alting Real Estate Group, using their contemporary luxury know-how to bring a unique offering to the Spanish capital. The Mercer philosophy is based on combining exceptional locations, historic heritage buildings renovated by top names in architecture, exclusive interior design and top-notch service. These pillars have earned the group numerous awards over the years, including a MICHELIN Key in 2024 for its five-star Grand Luxe hotels, Mercer Barcelona and Mercer Sevilla.
The building owned by Alting will be operated by Mercer Hoteles, consolidating the hotel chain’s expansion into Madrid. JLL Hoteles carried out a meticulous competitive search for candidates to run this hotel, nationally and internationally, ensuring the best selection for this high-profile project. Mercer Hoteles received legal and financial guidance from Raich & Via throughout the process.
Mercer Hoteles founder and CEO Pedro Molina notes, “Mercer Madrid is a return to origins, respecting and valuing the history of the Azucarera building as the foundation for the Mercer experience of discreet luxury without garishness, striving for beauty and excellence. Mercer hotels are designed to create sensations and tell stories, featuring timeless, refined style. And of course, we will offer the exceptional, intuitive service we are known for, as we have been doing with our guests in Barcelona and Seville and look forward to doing in Madrid as well.”
A listed building of great historical value turned into a benchmark for luxury hotels
Built in 1905 as the headquarters of Sociedad General Azucarera de España, the building was designed by Enrique María Repullés y Vargas, renowned royal architect and creator of the Madrid Stock Exchange Palace. Of great heritage value and listed with protection level 1, its architecture combines Madrid’s eclecticism with Neoclassical and Neo-Mudejar elements, reflecting the architectural richness of the early 20th century.
The project to renovate and transform the property at Ruiz de Alarcón 5 from an office building into a hotel is being led by the Alting Developments department with Luis Galiano’s architecture firm, RCCyP Arquitectura, and renowned interiordesigner Andreu Carulla, one of Spain’s great design benchmarks, guaranteeing the building’s historical and protected elements will be preserved. The CAPEX investment will total approximately €10 million and the works are scheduled to be finished by July 2025.
Alting Deputy Director General Carolina Marcos highlights, “This change of use, from office to hotel, not only optimizes the asset’s profitability, but also reinforces our commitment to helping reposition Madrid as a global luxury tourist destination. With this project, Alting is bolstering its leadership in the real estate sector with initiatives adapted to new market trends.”
5* Grand Luxe hotel with the Mercer flair
Mercer Hotel Madrid will have 61 spacious rooms and suites. Future guests will have views of the Madrid Stock Exchange, and will be right by the iconic Plaza Cibeles, Puerta de Alcalá and Retiro Park, as well as the Prado and Thyssen-Bornemisza museums.
The hotel’s culinary offering will include a haute cuisine restaurant and a signature cocktail bar, both open to the general public. Plus, the hotel will have a spa, 24-hour gym, event rooms and an exclusive rooftop with a swimming pool and privileged views of downtown Madrid.
About Mercer Hoteles
Since 2005, Mercer Hoteles has transformed luxury hospitality in Spain with a unique proposal that combines central locations, unique buildings restored by prestigious architects and meticulous service. Each hotel highlights original architectural elements, creating spaces where history and modernity coexist in harmony. With sophisticated, timeless interior design featuring exclusive artwork by Agustí Puig, Mercer hotels give guests an authentic, custom experience in each destination. The food at its hotels features local products in the a la carte breakfasts, bars, restaurants, cocktail bars and terraces open to both the public and guests.
Mercer Hoteles’ portfolio includes gems such as Mercer Hotel Barcelona 5*GL Monumento (2012) and Mercer Hotel Sevilla 5*GL (2016) located in Casa Palacio Castelar, as well as the EME Catedral Mercer 5* (2018) and Mercer Plaza Sevilla 5*GL (2024) hotels and the new Mercer Residences Sevilla (2024) in Casa Palacio de los Marqueses de Nervión and Mercer Residences Barcelona (2025) in Palau Moxó. The next steps in the company’s expansion are Mercer Hotel Madrid 5*GL in 2025, and properties in Cordoba and Alella in 2026.
About Alting Grupo Inmobiliario
Alting Real Estate Group is focused on investment, generating value and managing buildings in prime and CBD locations in Barcelona and Madrid for its portfolio of properties for lease or to eventually sell.
With 48 years of experience, the Alting business model is based on excellence and creating top quality prime products, treating each project as a one-of-a-kind piece to maximize its value in every aspect through asset repositioning, transformation and management actions.
Diversification of the Group’s portfolio of assets (offices, hotels and residential classes), geographic scope (Barcelona and Madrid) and business units (Investments, Developments and Real Estate Consulting) give the company long-term stability, security and solvency.
For more information:
Alting Communications Department
comunicacion@alting.com
