- The Madrid City Council recognizes the work to restore the building, declared a Site of Cultural Interest, in the first edition of the Antonio Palacios Urban Planning and Architecture Awards.
- The architectural project, led by Ruiz Barbarin Arquitectos (Arquimania), has completely transformed the property into Madrid’s first luxury hotel with an integrated theatre.
- A meticulous restoration of its façades was carried out, especially the protected Carretas Street façade, a worthy heir to the architectural legacy of Antonio Palacios.
Madrid, 10 December 2025 – Silicius Real Estate has received an Honorable Mention at the Antonio Palacios Urban Planning and Architecture Awards for the renovation of the Teatro Albéniz Hotel. The Madrid City Council recognized the project during the awards ceremony held on December 9, celebrating the recovery of this historic building and its theatre.
The SOCIMI, specialized in long-term asset management with stable rental income, incorporated the property into its portfolio in 2019 as part of its growth plan and completed the renovation in 2022. The building, originally opened in 1945 as a venue combining a hotel, theatre, and nightclub, is classified as a Site of Cultural Interest by the Community of Madrid.
The project, carried out by Ruiz Barbarin Arquitectos (Arquimania), is unique in Madrid and has resulted in the full renovation of the property, creating a luxury hotel with a theatre. The work allowed for both uses—hospitality and cultural—to coexist and complement each other in a way that enhances their value, aligning with similar urban developments in other European capitals while preserving the building’s historical character.
“We’re proud to receive this recognition for a job done with care and respect. We restored this historic building to give back to Madrid a five-star hotel with a magnificent theatre, aiming to create a cultural hub and creative landmark in the city,” said Juan Díaz de Bustamante, General Manager of Silicius.
The restoration of this protected building involved preserving its original form, volume, and key elements such as the entrance hall, stalls, and stage, as well as period-specific decorative features like chandeliers, paintings, and sculptures. The façades facing Carretas Street and Calle de la Paz are also protected and were restored with special care. Notably, certain features lost over time were recovered, such as Ferran’s mobile sculptures, which have now returned to the theatre’s main façade.
The protected Carretas Street façade underwent detailed restoration, including the stone pilasters and ornamental motifs that had disappeared. The original steel window frames were replaced with new ones replicating the slender proportions of the originals. The façade reflects the eclectic architecture built in early 20th-century Madrid and stands as a clear heir to the style of Antonio Palacios.
Originally built by architect Manuel Ambrós Escanellas, the building was declared a Site of Cultural Interest for its architectural and artistic value, its significance to Spanish and Madrilenian culture, and the prominent activities it hosted throughout its history.
Antonio Palacios Awards
The Antonio Palacios Urban Planning and Architecture Awards, organized by the Madrid City Council, recognize significant achievements in the planning, construction, and renovation of the city. They highlight innovative contributions in architecture and urban planning that improve quality of life, add cultural value, and support the social, environmental, and economic sustainability of Madrid.
In the Building Renovation category, the awards honor projects that, by preserving, restoring, or adapting the original structure of buildings, contribute to urban regeneration through outstanding architectural quality.
The 2025 Antonio Palacios Awards are the successors of the prestigious Urban Planning, Architecture and Public Works Awards established in 1985. They return this year under the name of Antonio Palacios, the visionary architect who shaped Madrid in the first half of the 20th century, as part of a wider tribute marking the 150th anniversary of his birth.
