Former Grand Island Holiday Inn for sale

GRAND ISLAND, N.Y. (WIVB) — The former Grand Island Holiday Inn is up for sale once again with a price tag just shy of $10 million.

The Buffalo News reports that the Middle Eastern company that spent several million dollars to buy and renovate the former hotel, now known as the Byblos Niagara Resort & Spa, has put the property up for sale.

The inn was bought at a foreclosure sale in January 2013 by Byblos Hospitality of Dubai for $4 million.

The owners have posted the sale of the hotel on LoopNet, an Internet-based commercial real estate listing service.  The selling price is $9.8 million, more than double the purchase price.

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