Madrid has 13 hotels in the Michelin Guide's Key selection — 1 Three Keys, 2 Two Keys and 10 One Key. 7 can be booked with points: 5 through World of Hyatt and 2 through Marriott Bonvoy. Cash-only independents are listed too so nothing is missing from the map.



47k pts
75k pts
63k pts
97k pts
83k pts
On points
On points


Median points per night and cents-per-point value from AwardClaw's award tracking. Value is the cash rate divided by the points price, so higher is better; green means the redemption beats the program's usual value by a wide margin.
| Hotel | Keys | Program | Points / night | Value |
|---|---|---|---|---|
| CoolRooms Palacio de Atocha Madrid, Spain | Hyatt · Mr & Mrs Smith | 47,000 | 1.1¢/pt | |
| Gran Hotel Inglés Madrid, Spain | Hyatt · Mr & Mrs Smith | 74,500 | 1.1¢/pt | |
| URSO Madrid, Spain | Hyatt · Mr & Mrs Smith | 63,000 | 1.1¢/pt | |
| Santo Mauro, a Luxury Collection Hotel Madrid, Spain | Marriott · The Luxury Collection | 97,000 | 0.9¢/pt | |
| The Palace, A Luxury Collection Hotel, Madrid Madrid, Spain | Marriott · The Luxury Collection | 83,000 | 0.8¢/pt |
Mr & Mrs Smith 5
~1.7¢ per point · Chase Ultimate Rewards and Bilt Rewards transfer to World of Hyatt at 1:1, which is why Hyatt is the program most award travelers build around.
The Luxury Collection 2
~0.7¢ per point · Amex Membership Rewards, Chase Ultimate Rewards and Bilt all transfer to Bonvoy at 1:1, so Marriott points are the easiest to top up in a hurry.
13: 1 Three Keys, 2 Two Keys and 10 One Key. That makes Madrid one of 10 places in Spain with three or more Key hotels.
7 of the 13: CoolRooms Palacio de Atocha, Gran Hotel Inglés, URSO, Santo Mauro, a Luxury Collection Hotel, The Palace, A Luxury Collection Hotel, Madrid, Heritage Madrid and Unico. By program: 5 through World of Hyatt and 2 through Marriott Bonvoy.
Three Keys is the highest rating in Madrid, held by Mandarin Oriental Ritz, Madrid. None of them take points.
CoolRooms Palacio de Atocha, at a median of about 47,000 Hyatt points a night — 1.1¢ per point against the cash rate.
Hotel selection and Key ratings from the MICHELIN Guide hotel selection; points prices and value are AwardClaw's own observations of each program's award pricing and move with dynamic pricing. Program links reflect the loyalty program a property belongs to at the time of writing — partner portfolios (Mr & Mrs Smith, Small Luxury Hotels, Design Hotels) change, so confirm on the program's site before transferring points. AwardClaw is not affiliated with Michelin or any hotel group. MICHELIN is a trademark of its owner.