King Felipe and Queen Letizia attended the launching ceremony of the new IFEMA brand at the IFEMA Municipal Palace in Madrid. During the ceremony, the presentation of the new corporate strategy and brand was made. The IFEMA Municipal Palace traditionally hosts congresses, exhibitions, conventions, graduation ceremonies, conferences, concerts and shows. IFEMA (Institución Ferial de Madrid; "Fair Institution of Madrid") is an entity that organizes fairs and congresses in their facilities in Madrid.