Hyatt is to open a Madrid hotel under its Hyatt Centric brand.

Due to be launched by the fourth quarter of this year, the 159-room Hyatt Centric Gran Via Madrid will be one of the first openings for the lifestyle brand in Europe. The group plans to unveil Hyatt Centric La Rosière in the French Alps at a similar time.

The Madrid property is housed in a 1920s building on Gran Via that was previously home to offices.

It will have a restaurant and bar called Hielo y Carbon serving locally inspired cuisine and signature cocktails. A rooftop terrace is due to be added next year.

Launched in 2015, there are now a number of Hyatt Centric properties across the US as well as one in Montevideo, Uruguay.

The brand plans to open a dozen hotels across the world by the end of 2019.