The luxury hotel Guadalpín Byblos Andaluz in Mijas Golf is set to be sold by auction if municipal debts and taxes are not forthcoming by July 29th.
The hotel owners, AIFOS, have until July 29th to pay their debts, a total of €1,201,356.54, otherwise the Council will sell the property by auction. The starting price for bidding has already been set at €15:1 million, which is the value of the property (€39.1 million) less all charges, such as the mortgage. Any new owner would be expected to take on the mortgage on the property.
The luxury hotel was built in 1982, although didn’t open its doors until 1985. It has 144 suites and minisuites, indoor and outdoor pools, three restaurants, a thalassotherapy center, four tennis courts and parking.
AIFOS paid €40 million for the hotel in June 2006 and announced that they were going to spent €8 million on modernising the facility, although this never actually took place.