Allardyce spent less than one year at the helm of Newcastle United before parting company with the club by mutual consent, despite having initially signed a three-year contract.
Related ArticlesGet Real, Big Sam. You're kidding yourself about MadridCoyle and Allardyce hit out at WengerAllardyce-Wenger spat is beyond a jokeBlackburn Rovers v Fulham: match previewManchester City 1 Blackburn Rovers 1Sport on televisionAfter leaving St James' Park he joined Blackburn in December 2008.
But the Rovers manager said: "I would be more suited to Inter Milan or Real Madrid.
"It wouldn't be a problem for me to manage those clubs because I would win the double or the league every time."
The former Bolton Wanderers manager added: Give me Manchester United or Chelsea and I would do the same, it wouldn't be a problem.
"It's not a problem to take me into the higher reaches of the Champions League or Premier League and would make my job a lot easier in winning it."
Fulham manager Hughes came to Craven Cottage on the eve of the new Premier League season having been dismissed by Manchester City.
Allardyce, who was once in the running for the England manager's job, has sympathy for the former Wales manager and added: "His Manchester City reign obviously was not long enough.
"A little bit like me at Newcastle, but I didn't last quite as long as Sparky though," Allardyce said.
"He was given the chance and unfortunately at that stage of his career they decided to have a change. You look back on it and he'll be very disappointed because they only lost two games.
"There's a perception that other people can do better than you, but often the reality is not the case.
"He decided that Fulham was the place for him, he's taken over what he's described in his own words as a very good team and he's started where they left off last season."