Lulu Group acquires Scottish hotel for $120M

dubai — Twenty14 Holdings (T14H), the hospitality investment arm of Lulu Group International, has completed a $120 million acquisition of the Waldorf Astoria Edinburgh — The Caledonian.

The Caledonian joins a portfolio of $650 million worth of luxury properties across the UK, the Middle East and India that Twenty14 has assembled since 2014. Twenty14 Holdings intends to invest a further $28 million to enhance the building.

The Caledonian is a grand Edwardian railway hotel that has epitomised Scottish hospitality for more than 100 years.

Adeeb Ahamed, managing director, Twenty14 Holdings, said: “With more than 100 years of history, The Caledonian brings with it a rich heritage, character and opulence which we intend to preserve.”

The Caledonian operates under the Hilton’s flagship brand Waldorf Astoria. First opened in 1903 as part of the old Princes Street Railway Station, The Caledonian currently has 241 rooms and offers views of Edinburgh Castle. Local perceptions and historical legacies are central to our acquisition strategy Adeeb Ahamed,

managing director, Twenty14 Holdings

“Local perceptions and historical legacies are central to our acquisition strategy” pointed out Ahamed. — business@khaleejtimes.com