It was built by architect José Pérez Santamaría as the Hotel Colón, commissioned by Guillermo Sundheim between 1881 and 1883, with the collaboration of Andrés Mora, and promoted by Hugh Mathenson, Doetsch, and Guillermo Sundheim with the support of the Rio Tinto Company itself.
It was inaugurated on June 26, 1883. In 1892, the commemorative events of the Fourth Centenary of the Discovery of America were held.
In 1896, the company moved its offices and management accommodation to this building, and from that moment on, the building became known as Casa Colón.