According to industry sources, the classic 1961-built Funchal will soon be towed to Liverpool as new owners Signature Living have made the final payment on the vessel.

“Their plans have changed again and they will not be locating her in Ibiza as previously reported,” said a source familiar with the situation.

Thus, Signature Living plan to tow the ship to Liverpool, refurbish her, and then find a permanent spot for the vessel in the UK as a hotel vessel.

Last December, the vessel was sold at auction for 3.9 million euro to Signature Living, a UK hotel operator.