Twenty14 Holdings completes $120 million acquisition
Manama : Twenty14 Holdings (T14H), the hospitality investment arm of LuLu Group International, has completed a US$ 120 million acquisition of the Waldorf Astoria Edinburgh - The Caledonian.
The Caledonian joins a portfolio of $650m worth of luxury property across the UK, the Middle East and India that Twenty14 has assembled since 2014. Twenty14 Holdings intends to invest a further US$ 28 million to enhance and expand the iconic building on Edinburgh’s Princes Street.
The Caledonian is a grand Edwardian railway hotel that has epitomised Scottish hospitality for more than 100 years. Twenty14 Holdings intends to sensitively renovate the building while retaining its rich heritage and distinctive architecture.
Commenting on the new acquisition Adeeb Ahamed, Managing Director Twenty14 Holdings, said: “We are excited to add The Caledonian to the portfolio of Twenty14 Holdings. With more than 100 years of history, The Caledonian brings with it a rich heritage, character and unique 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 awe-inspiring views of Edinburgh Castle.
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