Calenza has started operating in Spain as a brand specialising in the refurbishment and transformation of entire buildings used for tourism. It arrives at a time of strong hotel investment, when refurbishments account for more than three in four hotel projects, with a proposition built around meeting construction deadlines.
The company, presented on 5 November in Madrid, targets owners, family offices, investment funds and hotel groups looking for a specialist partner to renovate, adapt or reposition their properties. Although its core business is the refurbishment of tourism assets, it can also take on new-build projects.
A team with six buildings completed and five under way
The brand has an architecture and construction team with more than ten years of experience in the real estate sector. Over the past two years, its professionals have completed six whole-building projects and have five more under construction in Madrid, Andalusia, Castilla-La Mancha, the Valencian Community and the Balearic Islands. This track record is complemented by more than 200 refurbishment works on homes, offices and commercial premises.
Calenza brings together design, procurement, construction management and execution in a single team, backed by a structure of more than 50 professionals in areas such as administration, finance, marketing and technology. This organisation allows it to coordinate the different phases of each project and keep the planning and delivery of the works in the same hands.
The company works on entire buildings, rather than isolated interventions in individual homes. It operates both on obsolete properties that need conversion and on operating assets that need upgrading or repositioning. It usually handles projects with investments of between €500,000 and €3 million, with capacity for works of up to €5 million, and operates throughout Spain, with Madrid as its main market.
Calenza handles projects of between €500,000 and €3 million, with capacity for works of up to €5 million
Seven months for a twelve-month job
The project that best illustrates the company’s approach is the comprehensive refurbishment of 32 tourist accommodation units in Cala en Bosc, Ciutadella (Menorca), in which the Calenza team took part. The works involved an investment of around €4 million and had an initial schedule of twelve months. They were finally completed in seven months, allowing the complex to open for the 2026 tourist season as planned.
The proposition rests on one premise: with tourism assets, construction time determines when the property starts generating income again. The company therefore organises its processes to speed up decision-making, coordinate teams and keep the works within the agreed deadlines.
“Our clients make an investment in which the delivery time is decisive: it is not enough to finish a building project well, it has to be done within the agreed time and, whenever possible, earlier. We have organised our processes to speed up decision-making and reduce construction times,” says Víctor García, CEO de Calenza.
García is an architect with an MBA and has more than 15 years of experience in architecture, construction and real estate. His career includes three years of professional activity in the United States and Latin America, as well as managing residential refurbishment and renovation projects in Spain.
It is not enough to finish a building project well, it has to be done within the agreed time and, whenever possible, earlier. Víctor García, CEO de Calenza
Refurbishment gains ground in the hotel market
The launch coincides with a cycle of growing investment in hotels and renovation of existing assets. According to Colliers’ Hotel Investment in Spain 2025 report, hotel investment reached €4,275 million in 2025, the second-highest figure on record, while capital allocated to existing hotels rose by 30% to €3,986 million.
Along the same lines, refurbishments accounted for 76.9% of the 556 hotel projects recorded in Spain in the first half of 2026, according to data from Intescia–Doubletrade.
On the regulatory side, Madrid has the Plan RESIDE, given final approval in August 2025 and in force since its publication in the Official Gazette of the Community of Madrid in September 2025. The planning amendment has changed the conditions for setting up tourist-use homes, with restrictions in residential buildings and specific requirements for certain types of accommodation, a framework worth considering in projects that convert properties for tourist use.
Refurbishments accounted for 76.9% of the 556 hotel projects recorded in Spain in the first half of 2026
Planning, cost control and traceability
Calenza’s methodology starts from the planned date on which the asset will begin operating and organises the works around that goal. To do so, it coordinates the design, procurement and construction phases and carries out ongoing monitoring of costs, deadlines and progress certifications. Anticipating decisions and coordinating teams makes it possible to detect deviations and correct them during the works. The company also applies value engineering techniques to optimise resources and adapt construction solutions to the economic targets of each project.
To support this methodology, Calenza uses artificial intelligence tools to speed up the preparation of initial budgets and strengthen cost control during construction. The company has taken part in adapting and developing these solutions for use in construction processes.
Project portfolio
Calenza currently has five whole-building projects under construction in Madrid, Córdoba, Málaga and Alicante. It is also involved in negotiation and tendering processes for six further projects in Madrid and Jerez de la Frontera, which could be carried out over the next 12 to 24 months if awarded.
