EXTENDAM is acquiring a 3,000 m² plot of land on an already developed tertiary zone, in order to build the 300th hotel in its portfolio, an Ibis Styles, scheduled to open in 2025.

Construction will begin in February 2023 and the hotel is scheduled to open in early 2025. The new 8,675 m² hotel, located in the Valdebebas district, will have 260 rooms and will cater to both leisure and business travellers.

The area is home to Real Madrid's training centre, the Exhibition Centre, the IFEMA Congress Centre and the Felipe VI Park, one of the capital's green lungs. The urban area is currently being developed and will soon be home to a new courthouse, 36,000 m² of office space, a 145,000 m² shopping centre and an extension to IFEMA.

AGP Hotels, a partner and co-investor in the operation, which already has a dozen franchised hotels in France and Spain, including three Accor-branded hotels in Spain, will operate the new property. 

We are delighted with this first transaction with AGP Hotels in a Madrid district undergoing major changes. The hotel operator market in Madrid has recovered very well overall in 2022 and at the end of October posted cumulative RevPAR growth of almost 130% compared with 2021, despite the fact that the beginning of the year was still heavily impacted by health restrictions. We are therefore very confident that the future ibis Styles will be well suited to a well-balanced neighbourhood combining a new urban offer with a preserved natural setting. 

Jean-Marc Palhon and Bertrand Pullès, respectively Chairman and Deputy Managing Director of EXTENDAM 

We are delighted to begin our collaboration with EXTENDAM on this structuring project which will strengthen our position in Spain. Over the last few years, the know-how and quality of our group's hotel management has been recognised, in particular by awards from the franchisors Accor and Louvre Hotel Group, as well as by the Ministry of Crafts, Trade and Tourism. We have an ambitious common vision for this future ibis Styles hotel in Valdebebas, which is fully integrated into our development with the objective of operating 25 hotels by 2030. 

Alexandre Guénant, Chairman of AGP Hotels 

The future ibis Styles in Valdebebas is one of the major projects in Europe. It is part of our roadmap to develop and operate mixed-use projects. Our differentiating factor is our ability to provide complete solutions to hotel operator and investor partners throughout the life cycle of each project. This is what we are looking forward to doing in this new location. We are delighted that EXTENDAM can accompany our historical franchise partner AGP Hotels in its development, which was the first ibis franchisee in Spain in 2009. 

Cristina De Oliveira-Frewen, COO Franchise Operations Europe & North Africa of Accor Premium, Midscale & Economy