This hotel, perfectly situated in the heart of Ribeira Grande on São Miguel Island, is a prime investment opportunity. Ready for decorative renovation, the property requires no permits or major construction to commence operations as a three-star hotel. Currently situated as a apartment-style hotel, each of the 18 apartments has a private kitchenette with en suite bath.Expansion Potential:For buyers interested in upgrading the hotel to a four-star establishment, the property is eligible for EU funds and grants through the Portugal 2030 incentives program.Accommodation Details:
2 Studio Apartments: Ideal for solo travelers or couples seeking a cozy retreat.
14 One-Bedroom Apartments: Spacious and comfortable, perfect for small families or longer stays.
2 Two-Bedroom Apartments: Generously sized for larger groups or families.Amenities:
Bar with Terrace: Offers stunning sea views, providing a perfect spot for guests to unwind.
Commercial Kitchen: Fully equipped to handle large-scale food preparation.
Restaurant: A dining area designed to cater to hotel guests and walk-in customers.
Pool: An inviting outdoor pool area for guests to relax and enjoy the island's beautiful weather.
Parking Garage: Accommodates up to 10 vehicles, ensuring convenient parking for guests.
Laundry Facilities: On-site amenities for guests’ convenience.
Operational Facilities: Comprehensive infrastructure in place to support hotel operations smoothly.This property offers immense potential for investors looking to tap into the vibrant tourism market of São Miguel Island. Whether maintaining its current three-star status or upgrading to a four-star luxury experience, this hotel is ready to welcome guests to the stunning Azorean archipelago.Possible owner financing options for qualified buyers. Inquire for additional information.