The Byblos is valued in excess of 35 million euros, but the cunning businessman paid less than three million for it

THE company owned by British entrepreneur and TV personality Sir Alan Sugar, Amsprop Spain, has successfully won its bid for the luxury Byblos Hotel in Mijas (Costa del Sol) after the company that owned it, AIFOS, filed for bankruptcy last month and the hotel was put up for auction.

Reports say that the 35 million euro hotel was picked up by Sir Alan for just over 2.5 million euros. The bid was confirmed after the ten day period in which there were said to be no other bids.

Sir Alan’s son Daniel controls the investment firm Amsprop.


This story originally appeared in Euro Weekly News – your favourite English newspaper in Spain.