Plaza Mayor holds a strategic location in the city center, so it was once a market, bullfighting place, execution site, coronation ceremony and even court trials. It is the different functions of the square and the historical events that take place here that contribute to the different names over the years. The square used to have names like Plaza del Arrabal, Plaza de la Republica and Plaza Real. The current name - Plaza Mayor dates back to the Spanish Civil War.
There are 9 entrances to the square, occupying 129 meters in length and 94 meters in width. The building here consists of 3 floors and 237 balconies overlooking the square. Most of the buildings are residential, with the exception of the Casa de la Panaderia (Bakery) which is now used to host cultural events. Beneath the domes that surround the building are restaurants, cafes, wine bars and tapas bars. In the center of the square is a bronze statue of King Felipe III, by Giovanni de Bologna. The statue was erected in 1616 and moved to the square during renovations in the 19th century.
Today the square is Madrid's main tourist attraction, welcoming millions of tourists each year. Plaza Mayor is located in the city center, so guests can visit other main sites such as Casa del Ayuntamiento and the Royal Palace.