Lulu looks to Europe

Lulu

Twenty14 Holdings, part of the Lulu Group International, said that it was planning to expand its hotel holdings in Europe.

The company said that it was considering investing $250m over the next two years in Europe and India.

Managing director Adeeb Ahamed told The National: “Currently we are in discussions (to acquire) multiple properties in Europe, which is a key and active destination for us so we are looking at investing in properties in different parts of Europe.”

In 2015, the group bought Great Scotland Yard for £110m and converted it into a luxury hotel, which opened to guests last year. It also owns The Caledonian hotel in Edinburgh, operated under Hilton's Waldorf Astoria brand.

Ahamed added: “We are only realigning our vision on investments. Earlier the vision was to have properties in city sectors and in key business destinations but due to the pandemic we are of the opinion that we should have a mixture of city properties and resort properties rather than just focusing on city-led properties.”