Costa Del Sol's Byblos Hotel Development To Be Financed By ERDF Funds

COSTA DEL SOL’S Iconic Five-Star Byblos Hotel Development To Be Financed By ERDF Funds

The Andalucían Government announced today (Tuesday 16), that the Andalucían Urban Development Fund will support the reconstruction and recovery of the iconic five-star Byblos hotel in Mijas, on the Costa del Sol, which has been closed since 2010.

The project involves a financing operation of €20m, with funds that come mainly from the European Regional Development Program Fund (ERDF) through the Andalucían ERDF 2014-2020 Operational Program and the Andalucían Government.

The operation, which has been managed by Arcano, is part of a financial instrument that seeks to utilise an investment of up to €200 in sustainable projects in the Andalucían community, with this particular project involving the recovery and expansion of this emblematic hotel, which has been closed for more than 10 years, with the aim of enhancing the disused infrastructure, promoting tourism in the town, generating employment, and offering high-end hotel accommodation to attract foreign tourists.

Grupo Marugal will manage the project, under a franchise agreement with the international Hyatt group, as a part of their ‘Unbound Collection’ branding, during which, an important innovative effort will be made in digitization and efficiency in the use of energy, while trying to respect the architecture of the original establishment.

The original Byblos Hotel opened its doors in 1986, and ran for 24 years, seeing a multitude of high-profile guests staying there, including Princess Diana in 1993, Julio Iglesias, the Saudi royal family, Antonio Banderas, and even the Rolling Stones, before closing on May 31, 2010, as reported by malagahoy.es.
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