Hotel in Madeira owned by the Spanish RIU and the German TUI offered for sale

Blog problems today, its being looked into. Hopefully sorted out soon.

The four-star hotel in Madeira is one of three hotels offered for sale by RIU Hotels, a joint venture between Spanish RIU and the giant German tour operator TUI.

With the tourism sector being one of the most affected by the pandemic, RIU Hotels, a joint venture of the Spanish RIU and the German tour operator TUI, offered a four-star hotel in Madeira for sale.

According to the Spanish newspaper Expansión, RIU Hotels placed the RIU Palace Madeira on the market, as well as a hotel in Lanzarote, in the Canaries, and another in Panama. In total, the three units total about 1,500 rooms.

The RIU Palace Madeira is a four star hotel in Caniço de Baixo and has 327 rooms.

Located in the parish of Santa Cruz, about 12 kilometers from Funchal and two kilometers from the Madeiran airport, the RIU Palace Madeira, which has indoor and outdoor swimming pools, is located next to Praia dos Reis Magos.

According to the Spanish newspaper, the group has not yet received any firm offers for the acquisition of the hotel units.


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