Galería Canalejas, one of Madrid’s prominent luxury destinations, plans to repurpose its basement after the Food Hall closed following financial losses. A planned €21.5 million agreement with AIRE Ancient Baths Group would bring a wellness centre of around 2,200 square metres to the complex, expanding its offer beyond luxury retail and dining. Forbes España reported the project in October 2026, with details first published by Cinco Días.
The spa is expected to create approximately 100 jobs and serve Four Seasons hotel guests as well as outside visitors. It is projected to open between 2029 and 2030, depending on construction progress. The facility is planned for the lower level, with a dedicated entrance on Calle de Alcalá. The plan follows the Food Hall’s closure after its basic operator, Mad Gourmets, entered insolvency proceedings. The company’s losses climbed from just over €70,000 in 2022 to nearly €650,000 in 2023, despite a 25% increase in revenue. Once home to 25 eateries, the venue had fewer than half that number before closing about eighteen months ago.
The shift changes the basement from a dining destination into an appointment-led wellness experience. Luxury boutiques still draw shoppers upstairs, but the Food Hall struggled to attract diners to a space without natural light or terraces, competing with Madrid’s rooftop venues. The planned spa instead targets visitors seeking private, extended experiences, including hotel guests and customers arriving through external channels.
The project is part of a wider repositioning of Galería Canalejas. Forbes España reported that OHLA assumed full control of the gallery, while Mohari retained the Four Seasons hotel. The separation of the commercial and hotel assets was resolved in April 2026. With control of the gallery consolidated, OHLA can pursue a distinct strategy for its retail and visitor offer. The spa is one part of an effort to broaden the customer base, attract more Spanish visitors and reduce reliance on the United States market. Forbes España also put boutique sales at approximately €100 million.
Karine Titli, general manager of Centro Canalejas Madrid, said the move towards wellness aligns with a broader strategy to serve clients who value discretion and comprehensive service. The opening timetable still depends on construction progress, making the 2029-2030 window an estimate rather than a fixed inauguration date.
Founded in 2004, AIRE Ancient Baths operates venues in Spain and international markets. Its concept combines thermal bathing circuits with massages, while its rituals draw on ancient bathing traditions, including Roman and Greek practices alongside Ottoman influences. The company describes pools at different temperatures as basic to the experience. Its Vallromanes venue occupies a former country house dating from 1497, showing how AIRE adapts historic buildings for wellness. The planned Madrid centre would add to an established operation that the company says has around 900 coworkers. The final design and facilities for Canalejas have not been made public.
The contrast between the luxury boutiques above and the former Food Hall below has prompted debate about how customers use high-end retail destinations. The original dining concept depended on visitors combining shopping with a meal. The spa, by contrast, aims to draw people specifically seeking wellness services. That change reflects a broader effort to make the complex a destination beyond shopping while retaining its premium positioning.
Canalejas’s challenges reflect a wider struggle to sustain upscale food halls in prime city locations. Other Madrid ventures, including Platea Madrid and Teatriz, have also struggled to maintain momentum. The gap between the average visitor to Puerta del Sol and the elite clientele targeted by the galleries remains a commercial concern, particularly when high prices and an exclusive image may deter a broader audience.
As the basement is prepared for a future wellness venue, the rest of the complex continues to test luxury experiences. This summer, for example, the rooftop terrace of Dani Brasserie will host open-air cinema nights, pairing themed menus with films such as Wicked and 007: Casino Royale at €295 per person. The events reflect an ongoing search for new ways to engage Madrid’s most discerning visitors. Galería Canalejas’s story echoes other cases of iconic Spanish properties undergoing dramatic changes, such as the recent opening of Cantora estate to the public after years of neglect, as detailed in this report on Cantora’s change.
Madrid’s luxury sector continues to adapt as operators balance exclusivity with location, while seeking to offer a distinctive experience. The planned Canalejas spa will test whether wellness can succeed where high-end dining could not, and give the complex a new role in the city’s premium visitor economy.
