The Hotel Rey Juan Carlos will be reborn as Miranda de Pedralbes under the management of Meliá

New life for the emblematic Hotel Rey Juan Carlos I in Barcelona. After two years closed, the establishment will be reborn this year transformed into a new luxury hotel of the Meliá Group, which, as a first major decision, has opted for a name change. The hotel will stop associating its brand with the figure of the emeritus king, strongly discredited and socially questioned, to adopt the name of Hotel Miranda de Pedralbes, in allusion to the exclusive and nearby residential neighborhood of Barcelona.

Meliá will subject the hotel in the coming months to an "ambitious" process of renovation and updating of its facilities with the aim of converting it "into the best urban resort in Barcelona and one of the best holiday hotels in southern Europe." "We want to create an authentic destination hotel for leisure public and also for business or congress travelers who wish to fully enjoy their stay in an urban oasis above the city," explained the CEO of Meliá Hotels International, Gabriel Escarrer.

Convinced of the "potential" of the city and the "new brand approach" that will be given to the establishment, the Balearic group has signed a management contract with the hotel's property and, more specifically, with the investment fund Tyrus Capital, which has taken control of this real estate asset by being its main creditor. Unable to meet its financial commitments, Barcelona Project's, the company that owns the Juan Carlos I, suspended payments last September, with debts close to 160 million euros. Before it passed into the hands of its creditors for non-payment, the hotel belonged to a branch of the Saudi royal family, specifically to the descendants of the late Prince Turki Ben Nasser.

Built for the Olympic Games, the Juan Carlos I has been on the ropes for many years due to its large debt. With this critical financial situation, inherited from the time when the establishment was managed by the Husa chain, the hotel could not cope with the impact of the pandemic in 2020 and did not reopen its doors. The approximately 400 employees of the establishment are still covered by an ERTE and in the middle of this year they will be able to return to their work thanks to the reopening.

Inaugurated in 1992, the Hotel Juan Carlos I has more than 400 rooms and is located on a municipally owned plot, as it was built thanks to a concession that, unless it is extended, expires in 17 years, in 2040. Before suspending payments, Barcelona Project's already tried, unsuccessfully, to have the concession renewed for 50 more years, but negotiations with the City Council failed and the company ended up filing for bankruptcy.

Meliá will replace the Fairmont chain, one of the luxury brands of the French group Accor, as the hotel's managing company. The new Miranda de Pedralbes will join the Gran Meliá collection, which includes the group's highest category hotels, thus redoubling its commitment to Barcelona, where at the end of 2021 it already inaugurated a five-star hotel, the ME by Melià, on Casp street. In the Catalan capital, the Balearic family group also operates the Barcelona Sky skyscraper hotel, the Meliá Sarrià and the Condal Mar and Apolo hotels.

"We are very satisfied with the agreement reached with the hotel's ownership and with Tyrus Capital, with whom we have maintained a close relationship and strong ties for years. We also want to thank the Barcelona City Council for its willingness to recover a key tourist asset for the city, which under the expert management of our group and with the prestige of a brand like Gran Meliá, will be able to continue contributing to the creation of social and economic value and profitability in the destination", Gabriel Escarrer emphasized.

The new operator will also take over the Palau de Congressos de Catalunya, located in the same complex in the upper part of Avenida Diagonal, next to the Polo Club, which will also reopen in the coming months with the challenge of facing "a new stage of success" and the ambition of positioning itself among the best congress complexes in Europe. Meliá has experience in managing similar facilities, such as the Palma Congress Palace.

"The new Gran Meliá will enhance communication between the hotel's spaces and the magnificent romantic gardens of the old Torre Melina, which will be integrated into the hotel, bringing light and life to its common areas," explains Meliá, which anticipates that the "ambitious planned renovation" will incorporate two major attractions: a "spectacular" terrace (roof top) with the best views of the city, destined to be "Barcelona's new essential meeting point"; and a signature gourmet restaurant "of the highest international prestige."

Other elements of the remodeling include the launch of a pool club, a new concept that will allow guests to enjoy the pool and garden area and will feature "the best partners from the gastronomic and musical scene." Additionally, guests will also have the option to use the beach club of the Hotel Me Sitges. Finally, the Hotel Gran Meliá Miranda de Pedralbes will feature an internationally recognized firm responsible for managing the Spa.

With the arrival of the first Gran Meliá in Barcelona, the city will add a new brand of international prestige to its hotel offerings, joining other recently established brands such as Intercontinental, The Hoxton, and Sofitel.

With a turnover of 900 million euros in 2021, the Meliá group is listed on the stock exchange and has a presence in 40 countries, with over 300 hotels totaling 84,000 rooms.