It’s been a lifetime since legendary Studio 54 co-founder and co-owner Ian Schrager got into the hotel game to open Morgans New York in 1927. With this property, a rarity at the time, he was the pioneer of the very idea of ​​a boutique hotel. and changed the face of the industry. The now inescapable concept of a hotel being a “home away from home” and more of a lifestyle district in itself than just a pleasant place to stay in a foreign city is credited to this man. Needless to say, when opening a new property, the industry pays close attention. This month, the ever-watchful eye lands on Schrager’s brand new five-star property in Madrid, adding to the recent jaunt to town of luxury hotel openings with the 200-room Madrid edition.

With iconic hotel brands like Four Seasons and Rosewood, Madrid has been a bit of a hot spot for the hotel world lately. Edition Madrid will continue this trend when the hotel opens to the public this month, unveiling an extensive selection of rooms and suites, many with private terraces. The hotel is expected to reflect the same upscale approach as Barcelona Edition, which opened its doors four years ago and has since been referenced as one of the best new hotels in the city.

Two restaurants will feature across the property, both helmed by award-winning chefs with Diego Munoz leading the adventurous Oroya on the fourth-floor rooftop, and Enrique Olvera helming Jerónimo in the lobby. The former will be rooted in Peruvian flavors but will have enough scope to include influences from Spain, Africa, Italy, China and Japan, while Olvera’s cuisine will lean more heavily on Mexico with shades drawn from around the world.

Oroya appears to be the more upscale of the two, located on the rooftop right next to what’s billed as Madrid’s largest rooftop pool. Unrivaled views of the capital are promised, which should make this the hotel’s most popular public space for anyone wanting to spread out on one of the 60 loungers and 10 cabanas.

Schrager has certainly secured the best possible location for the new luxury hotel. The property is located in Plaza de Celenque in the Sol neighborhood with walking access to the Royal Theater, Royal Palace and Plaza Mayor, as well as Madrid’s Grand Via and Broadway. Obviously, there is a lot to admire from this rooftop.

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Originally designed by famed Spanish architect Pedro de Ribera, the building the hotel sits in is as intensely satisfying as the surrounding structures. It’s been polished by British architect John Pawson and Parisian designer Francois Champsaur for an elevated modern aesthetic that should help distinguish the hotel’s facade. From the photos alone, it looks like Pawson’s record was perfect.

“Every time I visit Madrid, I am aware of the cultural intensity of the city. He has a special energy and a strong sense of place,” Pawson said.

“With the Madrid edition, I wanted to create a place of equal but different intensity – quiet spaces to retreat to, but also an environment charged with its own life and identity.”

While it’s unclear exactly what the specific space will be called, Edition Madrid will also have its own entertainment venue located on the ground floor of the hotel which is set to open later this year. Apparently, it will be the go-to spot for after-hours events, enhanced by a sense of theater and glamor that echoes the polished gold walls and a backlit onyx bar with a leather base. Whether or not this will become Studio 54’s Spanish revival remains to be seen, but the good man is behind it if the hotel wants the reputation.

Other amenities include a new iteration of Edition’s quintessential Lobby Bar, a fully equipped gym and wellness center using products from luxury Spanish brand Natura Bissé.

Edition Hotels is a Marriott International brand, so all associated benefits shall apply to members of the hotel group’s Marriott Bonvoy rewards program. Edition has also planned upcoming hotels in Rome, Reykjavik, Tampa, Doha, Mexico City and Dubai, as well as its second property in Tokyo.