The building, which has been the seat of Hotel Nazionale since the end of the 19th century, was reconstructed in 1733 by a building project promoted by Pope Clemente XII Corsini (1730-1740), who wanted to create a structure capable of communicating functionally with the seat of the Apostolic Curia, now the present building of Montecitorio. The palace hosting the Apostolic Curia was built in concordance with the work done on the piazza opposite it as desired by Pope Corsini, commemorated in the headstone posted on the portal at no. 115.
The sketch of the actual piazza dates back to the end of the 17th century due to the wish of Pope Innocenzo XII (1691-1700) who, in order to arrange the notary's offices and widen the existing space, demolished many of the surrounding houses. The owners of the remaining buildings, among which the Capranica (the Hotel is enclosed in the territory belonging to Monsignor Capranica), were afterwards authorized to reconstruct their own palaces according to the new road perimeter. The building of the Hotel that closes the famous Piazza at its corner, was rebuilt on the place where at the end of the 17th century the Padri della Missione had their seat; the same space was then occupied by the houses destined to the offices of the Cardinal Vicar, and demolished during the first years of the 18th century to allow the extraction of the Colonna Antonina. Hotel Nazionale is enclosed in one of the most important urban quarters, the Colonna, a historical central area that since 1870 (from the proclamation of Rome as Capital of the New Unitary Suite) hosts branches of the most important government functions. This urban centre is delimited by two of the most eminent memories of Roman epoch: the column of Marcus Aurelius, visual fulcrum of piazza Colonna, and the Egyptian obelisk brought to Rome by Augustus in Piazza Montecitorio.