LEVEL CONSTELLATION BUYS HOTEL MONTE PALACE

Level Constellation has just acquired the Monte Palace Hotel, located in the Lagoa das Sete Cidades, on the island of São Miguel, Azores. The investment materializes the announced diversification of the company’s investments in Portugal and its incursion into tourism.

Level Constellation is a real estate developer founded in 2014 by six Chinese businessmen, who has already invested in the national real estate sector about 70M €. PARK AVENUE, OURO GRAND and OFF LIBERDADE are some of the products already marketed by the company, which is preparing to launch CLASSICA on Avenida da República, 40, in Lisbon.

The building of the Hotel Monte Palace has 14,000 m2 of construction area, incorporating an area of ​​50 hectares of natural vegetation, consisting mainly of cryptomeria. The stunning views of the Lagoa das Sete Cidades, the most important ex-libris of the Azores, give an international notoriety to the building.

The hotel has been abandoned since 1990, when it was the winner of the Best Hotel of the Year award in Portugal. Level Constellation aims to develop a reference project for the asset, in which it is already working.