Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Lopesan Hotel Group has reached an agreement with unions regarding an Employment Redundancy File (ERE) of the 100 employees at the Hotel Miguel Ángel in Madrid, which has remained closed since the pandemic. After 45 days of tense negotiations, a deal has been reached, offering tiered severance packages based on age: up to 28 days per year worked for younger staff, and progressively lower terms for older workers. Additional support measures include a special agreement to cover pension contributions for those over 55 and an external outplacement plan lasting six to nine months, depending on age.
Initially, Lopesan intended to extend the temporary Employment Redundancy File (ERTE), but legal constraints and operational inactivity made this unfeasible. The unions attribute the improved terms to public pressure and sustained worker mobilisation. Looking at the future, Lopesan is intended at launching a €50 million renovation of the hotel, in partnership with Stoneweg, to transform it into a high-end Lopesan Collection property, reinforcing Madrid’s luxury tourism offering.
Eurofound (2025), Hotel Miguel Angel, Closure in Spain, factsheet number 202744, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202744.