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The 20 million euro investment of the Madeiran businessman Anacleto Teixeira will rehabilitate the block between Rua da Alfândega and Rua dos Murças, in the centre of the city.

The new hotel will maintain the existing structure in the area and guarantee at least three facilities: the prestige of an international hotel chain, greater light in the two streets and an auditorium for about 150 people.

The new hotel will have 122 rooms and the top floor will be allocated to a bar and a pool overlooking the city.

Anacleto Teixeira explains that he is passionate about the island. “I did not grow up in Madeira, but I have many affinities with this land. I never stopped visiting the land of my father and my mother, who also loved this island,” says the businessman.