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.
In the mid-19th century, Hotel Borges was founded adjacent to Travessa de Estevão Galhardo, close to Hotel Universal (previously housed in Barcelinhos Palace, now occupied by Chiado warehouses). The space was subsequently utilized on higher floors of the building, while a shop operated by Ramiro Leão functioned on the main floor.