by Mia Taylor
Last updated: 8:00 AM ET, Wed May 30, 2018
After being shuttered for nearly three decades and all but abandoned for the past eight, one of the most famous hotels in the Azores is preparing to reopen.
If all goes well, Hotel Monte Palace, on Sao Miguel island, will begin welcoming guests once again in 2021, Lonely Planet reported.
The property was the first five-star hotel in the Azores, and in 1990 it was named Best Hotel of the Year in Portugal.
A Chinese real estate development company, Level Constellation, is working on bringing the hotel back to life. That effort currently includes screening local management companies to run the property. A decision is expected to be announced any day now.
During its original incarnation, the five-floor hotel did not fare well. It shut down not long after opening because of sagging profits, Lonely Planet reported.
Since then, the Azores property has been vandalized and became something of a quirky, unofficial attraction for photographers.
Located on one of the most famous viewpoints on the island, Hotel Monte Palace overlooks the stunning lagoons of Sete Cidades.
The refurbished property will be created to respect the environment, keeping it in line with the region's notable sustainable tourism focus. Once reopened, the hotel will most likely be renamed
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