“Madrid is having a moment,” declares Elisa Palma over the clack-clack-clack of her kitten heels across the white marble floor in the reception of the Mandarin Oriental Ritz, one of Europe’s most fabled hotels.

“A five-star moment, with Four Seasons and Edition Hotels both opening their first properties in Madrid [in 2020 and 2022 respectively], and of course, us, after the biggest refresh in the history of this property’s 113 years.”