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Follow UsTwenty 14 Holdings the hospitality investment arm of Abu Dhabi –based Lulu International group is planning to invest 750 crores in opening new hotels in India. They also want to expand their presence in Europe.
They are building a 200 room hotel and another with 135 rooms in Bangaluru, which are expected to be completed by 2019. The company is also constructing a 200 room hotel in Kannur and has been renovating another hotel in Kochi. The Kannur hotel is expected to get open in 2020.
The company has recently acquired Great Scotland Yard and The Waldorf Astoria-Edinburgh in the UK, the company is really excited for further investment in Europe, France, Netherland and Switzerland
In 2014 the company planned to invest $1 billion over the 6 years period of which 50% has been kept only for the acquisition in Europe while the remaining will be divided between India, Gulf countries, and far Eastern countries.