Twenty14 Holdings says it has completed acquisition of the Waldorf Astoria Edinburgh - The Caledonian
Twenty14 Holdings (T14H), the hospitality investment arm of Abu Dhabi-headquartered 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 property across the UK, the Middle East and India that T14H has brought together since 2014, the company said in a statement.
It added that it intends to invest a further $28 million in enhancement and expansion of the property.
Adeeb Ahamed, managing director of T14H 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.”
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.
“We are honoured to be part of this Scottish landmark that has a great significance for locals and visitors alike. We look forward to adding to the experience The Caledonian already offers,” added Ahamed.
Among improvements planned for the site, T14H intends to engage local craftsmen to enhance the hotel’s historic Caledonian Suites. Bespoke furniture, eclectic artwork and en-suite bathrooms featuring marble and burnished chrome fittings will feature among a host of additions, he said.
The Caledonian is also home to two restaurants operated by Michelin-starred brothers Chris and Jeff Galvin.