Norwegian Air and Nordic hotels group Strawberry said on Tuesday 27 June they plan to form a joint venture company that will provide benefits to the members of the groups' respective loyalty programmes.
"Additional parties will also be invited to join the partnership, further increasing the attractiveness for the companies' customers," Norwegian and Strawberry said.
A final closing of the deal is expected to take place in the fourth quarter of 2023.
Madrid Joins Race For High-Spending Tourists With Bet On Five-Star Hotels
The above news follows news that as pandemic travel restrictions began to ease in the spring of 2021, foreign tourists returning to Madrid discovered the city's downtown had undergone a makeover.
An area better known for its budget hostels, tacky souvenir shops and car-choked roads now had wider pavements, pedestrianised zones, and streets that Madrid's town hall says are safer and cleaner.
The facelift was part of the city's plan to attract a string of five-star hotels as it pushes for a piece of the luxury tourism sector until now dominated in Europe by Paris, London and Milan.
Deluxe hotels are cropping up all over the centre of Spain's capital. The Four Seasons Hotels Ltd opened a hotel near the central Puerta del Sol after the refurbishment of seven buildings including a former bank branch. The 1,500 square metre complex includes a shopping mall for luxury brands including Dior and Hermes.
Marriott International reopened the Santo Mauro Palace after renovation work during the pandemic and in June began to revamp the Westin Palace, adding 400 rooms. The nearby Ritz has recently been upgraded to the luxury Mandarin Oriental Ritz brand. Universal Music selected Madrid for the launch of its first five-star hotel.