The Albéniz Theatre Hotel in Madrid revitalizes two historic buildings—the Teatro Albéniz, a protected Bien de Interés Cultural (BIC), and the former Hotel Madrid—that were in ruins and abandoned, transforming them into a luxury hotel with a fully preserved, operational theatre. The protected façades and interiors were carefully restored, maintaining the theatre’s “air bubble” while reconfiguring surrounding spaces. Complex circulation and shared areas allow seamless coexistence of theatre and hotel, blending heritage with modern urban renewal.