During the middle of the 19th century, the Hotel Borges is founded along the Travessa de Estevão Galhardo, in the proximity of the Hotel Universal (in the old Barcelinhos Palace, later the Chiado warehouses). The space is successively operated within the upper floors of the building, while a shop (operated by Ramiro Leão) functioned on the main floor.
During the mid-19th century, Hotel Borges was founded adjacent to Travessa de Estevão Galhardo, near the former Hotel Universal (originally housed in Barcelinhos Palace, later Chiado warehouses). The space was subsequently occupied by upper floors of the building, while a shop run by Ramiro Leão operated on the ground floor.