BNP Paribas Real Estate & Therus partner on Madrid hotel project

BNP Paribas Real Estate and Therus Investment have teamed up on the Mediterraneo 44 hotel project in Madrid, which will become a Meininger Hotel. 

Meininger Hotel

BNP Paribas Real Estate has acquired a majority stake in the project, strategically located near Retiro Park, with completion anticipated in Q1 2028.
The development has secured a building permit for a hybrid hotel offering 193 rooms and nearly 700 beds, designed to cater to a wide range of guests, from families and school groups to individual travellers.
This project supports Meininger Hotels' expansion across Europe, with the company set to lease the entire 7,300 m² property, which is being rebuilt on the foundations of a former office building.
Antoine Mabilon, deputy managing director of BNP Paribas Real Estate Property Development, in charge of international development, stated: “This is the third joint venture in Spain between Therus Investment and BNP Paribas Real Estate, following the L’Oréal headquarters in Madrid and the Alcala 544 project, also located in the Spanish capital. This hotel project is a strategic contribution to the development plan of BNP Paribas Real Estate’s Promotion activity in Spain, and it also strengthens our positioning in the hotel segment across Europe.” 
Olivier Crambade, CEO of Therus Invest, commented: “We are very pleased to launch this new project with BNP Paribas Real Estate and to jointly deliver the first Meininger hotel in Madrid as we celebrate our twentieth anniversary this year.” 
Ajit Menon, CEO of Meininger Hotels, added: “We are delighted to realise our first Meininger Hotel in Madrid in partnership with BNP Paribas Real Estate and Therus Investment. Following next year’s opening of our hotel in Barcelona, this project further expands our portfolio in Spain and strengthens our presence in one of Europe’s key markets. Located in Pacífico, just a few minutes’ walk from major sights and transport hubs, the hotel offers the ideal setting to successfully bring our Meininger hybrid concept to life.”