Waldorf Astoria Edinburgh – The Caledonian – hotel has been bought by the Abu Dhabi-based hospitality investment arm of LuLu Group International in a deal worth £85m.
The hotel, set on Princes Street, the Scottish capital’s main thoroughfare, offers eight meeting and banqueting spaces. Dinners for up to 300 guests can be accommodated.
Twenty14 Holdings, founded in 2014 to capitalise on the growth in the global hospitality industry, plans to add 50 more rooms to the 241-room hotel in a £20m refurbishment.
The move is party of Twenty14 Holdings’ strategy of buying up historic buildings and hotels and restoring them to their former glory and heritage.
The Abu Dhabi company has also bought Great Scotland Yard in London which it hopes to open as a hotel in November 2018.
Twenty14 Holdings has acquired more than US$650m in assets around the world since 2014.
Photo: Twenty14 Holdings MD Adeeb Ahamed
