Landmark hotel and associated businesses sold
Both local newspapers report that the deed of sale for the Encumeada Estalagem Hotel was completed this week. It includes not only the hotel, a unit created 25 years ago by businessman José Duarte, but also the Quartel restaurant (in the Ponta do Sol Volunteer Fire Department building in Ribeira Brava), and the catering service run by the business.
The value of the deal, which has just been bought by the company consisting of Carlos Caires, managing partner, and Adílio Câmara, a native of Ribeira Brava who has already been involved with restaurants in Lisbon, is unknown. All employees, believed to number around 40, will remain with the new company.
Founder José Duarte, at least in the coming months, will continue to support new investors in this transition phase, particularly with Christmas, high season for catering, approaching.