Alcoutim council has failed to sell its Guadiana River Hotel within the 60 day window, and now is offering the property for lease with an option to buy.
The hotel has been closed for years and mayor Osvaldo dos Santos Gonçalves said that as the business had failed to sell at an asking proce of €1,3 million, the council now is happy to lease it with the bonus of offering permission to extend the property on land currently occupied by a tennis court.
This extension could add up to 20 rooms which with the current 32 could make the business viable, investors currently judge this is not the case.
The hotel in Alcoutim was built in the 80s by the council and leased to the Fernando Barata Hotel Group.
With a total area of 7,920m2, the hotel is about a kilometer from the centre of the town on the banks of the Guadiana river.
"Alcoutim is an area with high tourist potential and where hotels are scarce. Companies already engaged in the hotel business with the financial muscle to lease the property are welcome to apply."
The terms and conditions are on the council’s website www.cm-alcoutim.pt and plans are available at the town hall.
One big plus point is the pending approval for a 200-megawatt photovoltaic power plant to be installed on 800 hectares in nearby Martinlongo and Vaqueiros. The hotel easily could serve an influx of construction workers while it gets going.
