Novotel Madrid Feria and Airport

From two hotels to one destination: a strategic repositioning

In 2019, Essendi, then AccorInvest, regained ownership of the former Pullman Madrid Airport & Feria property.

Taking back control of this strategically located asset paved the way for an ambitious repositioning strategy, building on its complementary strengths with the neighbouring Novotel Campo de las Naciones.

Located in the heart of Campo de las Naciones, close to IFEMA Madrid, the Municipal Congress Centre and the airport, both hotels benefit from a dynamic business environment. The return of Formula 1 to Madrid in 2026, with the MADRING circuit located near IFEMA, further strengthens the area's appeal to business travellers, conference delegates, event attendees and leisure guests.

Essendi has brought the two hotels together under a single identity, creating a 426-room destination built around two complementary hubs: Plaza Hub and Deluxe Hub. The transformation has reshaped spaces and guest journeys, introduced a dining offering open to the local community and expanded MICE facilities, with nearly 1,000 sqm of flexible meeting and event space across 15 meeting rooms.

This repositioning aims to attract a broader guest mix, particularly leisure travellers and families alongside business and conference guests, strengthening the destination's commercial appeal and year-round performance.

Two drivers of value creation: revenue growth and operational efficiency

The project combines two complementary drivers of performance: growing revenues through an enhanced offering and a more diversified guest mix, while optimising operating costs. It builds on existing operational synergies between the two hotels, the sharing of selected services and resources, and more efficient use of space and infrastructure.

This strategy is already delivering a significant improvement in operating performance: in 2026, the combined EBITDA of the two hotels is up 65% compared with 2023, even though the transformation is not yet fully complete. The ambition is to nearly double 2023 EBITDA by 2028.

Beyond operating performance, the transformation also aims to increase the real estate value of the properties. Based on valuation assumptions yet to be confirmed, their Gross Asset Value (GAV) could increase by 160% by 2028 compared with 2023.

Environmental performance and asset resilience

Value creation also involves improving the asset's environmental performance and resilience. The transformation includes significant investment in decarbonisation, energy efficiency and technical upgrades, designed to reduce energy consumption and operating costs while enhancing guest comfort:

• Replacing gas boilers with heat pumps and installing photovoltaic panels.

• Improving thermal insulation, including façades and windows, and rolling out LED lighting throughout the property.

• Installing Building Management Systems (BMS) and Guest Room Management Systems (GRMS) to optimise energy consumption while enhancing guest comfort.

• Installing a 120 sqm green façade incorporating a greywater recycling system.

Already holding Green Key and CO2 Madrid Responsable certifications, the hotel is also targeting BREEAM In-Use Excellent certification.

A more open destination for guests, employees and the local community

The transformation also has a strong human and social dimension. Spaces have been redesigned to improve guest comfort, accessibility and the overall guest experience, while providing employees with more functional and better-adapted working environments.

Opening up the ground floor to the surrounding neighbourhood, creating new spaces for people to meet and introducing dining options accessible to non-residents are also helping to strengthen the hotel's connection with the local community.