Madeira Golden Residence (MGR) is a modern 4-star hotel located in Funchal with 172 rooms. Hotel Raga is a 4-star hotel with 170 rooms, in Funchal’s Lido neighbourhood. Both assets were part of insolvent or pre-insolvent companies.
Despite the challenging circumstances for Madeira’s tourism, ECS executed a restructuring process that involved (i) taking over the assets amid insolvent or pre-insolvent situations and (ii) repositioning the assets through light investments, commercial adjustments with tour operators and operational improvements towards best industry practices.
After successfully navigating the restructuring fronts, ECS launched a sale process targeting industry buyers. The MGR hotel was ultimately sold to a domestic hotel group and Raga to a foreign investor, both at a significant profit.