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 Mr & Mrs Smith and 2 through Marriott Bonvoy. Cash-only independents are listed too so nothing is missing from the map.
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 | Mr & Mrs Smith | 47,000 | 1.1¢/pt | |
| Gran Hotel Inglés Madrid, Spain | Mr & Mrs Smith | 74,500 | 1.1¢/pt | |
| URSO Madrid, Spain | 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; the same points work at every Mr & Mrs Smith property, and stays earn elite nights.
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 Mr & Mrs Smith 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 World of Hyatt points a night — 1.1¢ per point against the cash rate.
Every loyalty program, Key rating, country and city has its own page with points prices, value per point and a map.
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