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In 1948, construction began on what was then the tallest building in the city of Madrid, at 117 metres. With its central location, the building is an icon of the city, and the spectacular view from the roof provides a view of a large part of the capital. Throughout its history it has been used as a hotel, although some of the 26 floors are used as office space. After two years of complete interior renovation, it opened in 2019 as the Hotel Riu Plaza España.