The former Hotel Monte Palace, which has been abandoned for years in the Sete Cidades (Seven Cities) in Azores, is on sale for €1.5m. The space includes an old hotel unit and three rustic buildings and has been put on sale by a foreign real estate fund. The Monte Palace consists of five floors and is currently the subject of private investor inquiries. The hotel was the first five-star property to open on the island of Azores but has now been closed for 26 years. The new owner would be working with a hotel originally designed to offer 88 rooms, two restaurants, three conference rooms, a ballroom and some retail space.
