BCP bank-owned ‘Rancho Madeirense’ hotel, has been acquired by a group of investors.
Investor Rui Valério represents the new company and highlights the potential of the acquired unit. The goal is to “recover and expand” the unit, turning it into a “rural hotel” with the investment costing approximately 1.5 million euros.
“It has a fabulous location and is next to the entrance of one of the most frequented and walkable levadas in Madeira [which connects to Caldeirão Verde]. It has excellent natural conditions,” he says.
When the new unit is completed, the company must hire “at least between five and ten people to fulfill its contractual obligations.”
Samantha Gannon
info at madeira-weekly.com
