Madeira Palácio back on the market

Tobi Hughes·
Madeira News

Banco returns to stay with Madeira Palace is the headline this Sunday in Diário Notícias.

In the first, with a photo revealing the state the old hotel has been in since the previous project was stopped, we realize that “Millennium BCP rejected the conditions proposed by the Enotel group to proceed with a 155 million project”. And we add: “Madeiran businessman Estêvão Neves clarifies the situation. Tourist and real estate development is again for sale on the market”.

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Tobi Hughes

2 Responses

  1. Hi Tobi,
    This is somewhat strange.
    The Enotel Group had spent enormous amounts of money on the preparation work for the proposed upgrade, we visted the site March 2020 just before the UK lockdown [we arrived home just as lock down came into force] there were a number of contractors and security personel on site, it looked busy.
    Is it correct that the block of Suites next door is complete [This also had the Enotel Group logo on the perimeter boards] some Enotel members were to be transfered to this if the modifications to the Enotel Lido were not completed in time for the groups March 2021 re-opening.
    Is it the consensous of opinion [locally] that this is a sign of the times and the group are cutting back because of the present climate, or, has the local government decided that the area has been extended too much and capacity [generally] would not be met.
    This Hotel was to be another ‘All Inclusive’ establishment and would have had some impact on local bars and restaurants and as such local were there ‘Objections’ raised accordingly.
    Martyn Green

    1. Yes lots of work was going on and the suites should be finished as I think they were almost complete before Enotel took over. I guess it’s a sign of the times, and no a single Enotel has been open since March, and they have all been having work done on them. Sad to see this place will continue to be left empty, let’s hope someone else will take it over.

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