From the NYTimes Travel Section (Subscribe to NYTimes - Travel):
The new Hard Rock Hotel is causing a stir in the centuries-old neighborhood where it will soon open.
"Few old Madrid neighborhoods are left, and now this one has become fashionable," she said, entering her 1880 apartment building with its wrought-iron balconies. "The small-town feel has disappeared. It is on its way to becoming a place for tourism, drinks and wild times."
The first leggy model has yet to check in, but the Hard Rock Hotel has already become a symbol of the upscale transformation. After an inaugural night of celebrity sighting (the manager won't drop names, yet), it will become the fifth design-conscious hotel to open in the small Letras neighborhood the last two years.