Transaction / Assets Seller Buyer € MM
Ayco Buys Hotel Byblos In Mijas For €60M
26 September 2016 – Real Estate Press
As a result of this operation, Hotel Byblos hopes to restore its reputation as a luxury establishment in the health and family tourism sector, focused on the world of golf.
Ayco’s representatives have communicated that the real estate group plans to completely rebuild the property, which houses one of the largest five-star luxury hotels on the Costa del Sol. They plan to retain the hotel’s characteristic features, as well as incorporate new elements, such as a health and beauty area.
The five-star Hotel Byblos Hotel is an icon of the tourism industry on the Costa del Sol, since many internationally famous personalities have passed through its facilities, including the mythical Rolling Stones and Lady Di, amongst many others.
The establishment, opened in 1986, achieved enormous international fame as an icon of high quality tourism until it was acquired by the real estate group Aifos, which then led it to ruin, until its closure on 31 May 2010. In 2009, the British magnate Lord Sugar, founder of the mythical information technology company Amstrad, acquired the hotel and considered the possibility of reopening it in 2013, but that did not end up happening.
Original story: Real Estate Press
Translation: Carmel Drake