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1.5 Million To Expand Santana Hotel

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

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