"Paradores de Turismo de España" is a chain of Spanish luxury hotels. The company was founded by Alfonso XIII as a means to promote tourism in Spain, with the first hotel opening in 1928 in Gredos (Ávila). This state-run business has been profitable. The hotels are often located in adapted castles, palaces, fortresses, convents, monasteries and other historic buildings. They add to the attractions of heritage tourism and provide uses for large historic buildings. The Hostal de los Reyes Catolicos in Santiago de Compostela is considered to be one of the oldest continuously operating hotels in the world, and one of the finest Spanish paradors.