Funchal historic bank headquarters to become luxury boutique hotel

An emblematic historic building in Funchal, which previously served as headquarters for financial institutions including Caixa Económica, Banif, and Santander, is being transformed into a luxury boutique hotel.

The property, owned by the Associação de Socorros Mútuos 4 de Setembro, has been leased for 30 years to the Portuguese group FLH – Feels Like Home. The revitalization project aims to modernize the interior for high-end accommodations and leisure services while strictly preserving the original architectural facade and heritage identity of the building.

This conversion follows a trend of repurposing vacant banking assets into high-end tourism ventures due to the rise of digital banking and increased demand for exclusive hospitality experiences.