UAE Company Completes GBP 300 Million Investment in UK
Twenty14 Holdings, the hospitality investment arm of LuLu Group International, has completed investments of US$ 390 million in UK with the inauguration of the Great Scotland Yard in London today. The hotel will be open for business from December 9, 2019. The historic property was acquired in 2015 for GBP 110 million, and the makeover of the hotel involved a further GBP 50 million. In addition to the Great Scotland Yard, Twenty14 Holdings had acquired the celebrated Waldorf Astoria Edinburgh – The Caledonian in Scotland in 2018.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191206005122/en/
The Great Scotland Yard being formally inaugurated by Nicky Morgan, Secretary of State, Lord Jonathan Marland, Sir Edward Lister, UAE Ambassador HE Mansoor Abulhoul, Indian High Commissioner Ruchi Ghanshyam, Hyatt Hotels Global President & CEO Mark Hoplamazian in the presence of LuLu Group Chairman Yusuffali MA and Twenty14 Holdings MD Adeeb Ahamed in London. (Photo: AETOSWire)
The Great Scotland Yard Hotel, which is being managed by Hyatt under their The Unbound Collection by Hyatt brand, is located in the St. James’s district of Westminster. The Unbound Collection by Hyatt brand is a portfolio of independent hotel properties, ranging from historic urban gems to contemporary trend-setters. Whether it is a fascinating past, an exclusive location, famous architecture and design or an award-winning dining experience, each hotel has its own distinct narrative and creates novel, story-worthy experiences for guests, while at the same time offering World of Hyatt members all of the program’s benefits.
Steeped in history, The Great Scotland Yard was once a dwelling for visiting Kings of Scotland during the Tudor period, while today the building is most famous as the former headquarters of the London Metropolitan Police force. In 1910, the building served as the British Army Recruitment Office and Royal Military Police headquarters.
Speaking about the new project, M. A. Yusuff Ali, Chairman and MD of LuLu Group International said: “London is one of the world’s greatest cities and the Great Scotland Yard Hotel represents its illustrious past as well as its modern significance. The hotel spotlights the city’s vibrant history, its several celebrated aspects and its status as a global melting pot. In essence, we have curated an unmatched experience for every guest while recreating the historic premises into a symbol of ultimate hospitality. We welcome you to experience this unique and fabulous experience at the Great Scotland Yard.”
An 1820s Grade II listed building with Edwardian & Victorian architecture, the high-end luxury boutique hotel with 7 floors and spanning 93,000 sq. ft. has 153 rooms and 15 suites apart from a 2-bedroom townhouse VIP-suite created from part of the original Scotland Yard Police premises. The hotel also features a library, gymnasium, meeting/conference rooms, a 120-seater conference space/ballroom and VIP function rooms.
Adeeb Ahamed, Managing Director, Twenty14 Holdings, said, “The Great Scotland Yard Hotel is a dream come true for us. The culmination of a path set long ago. Transforming one of the world’s most historic addresses into an icon of modern hospitality. Twenty14 Holdings’ focus remained steady right through, keeping the building’s reputation in mind, every effort made in its rebirth had to be extraordinary, beyond expectations. And, this is what has been accomplished. The Great Scotland Yard Hotel invites you to experience its myriad stories.”
Once the famous and historical home of law and order in London's City of Westminster, Great Scotland Yard will be a modern destination, an innovative and lively space offering multiple F&B options – The Yard, The Forty Elephants, The Parlour and Sibín serving international & British modern food under the supervision of acclaimed Chef & restaurateur Robin Gill.
Peter Fulton, Group President EAME/SWA, Hyatt Hotels said, “We at Hyatt feel extremely proud to find ourselves charged with preserving the illustrious heritage of this iconic building, Great Scotland Yard, and give it a new life as the first hotel within The Unbound Collection by Hyatt. I could not think of a better London home for this brand, which is all about creating unique stays and story-worthy experiences. I want to thank the LuLu Group for putting their trust in us and handing us the keys to this one-of-a-kind hotel. We look forward to our continued success and building further on the fruitful relationship between Hyatt and the LuLu Group.”
The hotel has partnered with the Koestler Trust, the UK prison arts charity, to showcase some of the award-winning pictures, ceramics, and sculptures by serving prisoners from the Trust’s annual competition. The themed luxury hotel has secret doors, hidden rooms, shields, emblems, and historic details etched into glass and metalwork. Walls are lined in walnut paneling, antique bronze mirror work, and bespoke joinery, secret doors give access to the whiskey bar and signature restaurant, marble marquetry design flooring graces the cocktail bar with built-in banquet seating lined with button-cushion leather. Newly commissioned works of art and curated interior displays using antiques, collectables, and ephemera recall multiple aspects of the history of crime, detective work, and the police—as well as the hotel’s location.
About Twenty14 Holdings
Twenty14 Holdings, the leading hospitality investment arm of LuLu Group International, was founded in 2014 to capitalise on the growth in the global hospitality industry. The company currently has assets worth more than $750m spread across Europe, Middle East, UK, and India. In Europe, the group owns the historic Waldorf Astoria Edinburgh – The Caledonian in Scotland. The company recently announced its entry into mainland Europe with their first hotel in Switzerland – IntercityHotel Zurich Airport. In the Middle East, the firm owns the Steigenberger Hotel Business Bay in Dubai and co-owns the landmark Sheraton Oman Hotel in Muscat, Oman. In India, besides Port Muziris – A Tribute Portfolio Hotel in Kochi, Twenty14 Holdings is developing two properties in Bengaluru.
For more information, please visit http://www.twenty14holdings.com/
Ajit Johnson, Head of Strategic Business Relation, +971506623786
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Bermuda Confirmed as a Global Leader in the Fight Against Money Laundering and the Financing of Terrorism and Proliferation17.1.2020 21:11:00 CET | Press release
Bermuda’s regulatory regime has been assessed by the Caribbean Financial Action Task Force (CFATF), and the global inter-governmental Financial Action Task Force (FATF), and confirmed for having some of the highest international standards when it comes to combatting money laundering and the financing of terrorism and proliferation. The mutual evaluation report (MER) of Bermuda’s systems and framework, published today by the CFATF, highlights the outstanding work that has been done to comply with the FATF 40 Recommendations, used by 180 governments to protect the integrity of the international financial system. Of the more than 75 MERs published to date, Bermuda ranks first against the Technical compliance requirements, with 39 of the 40 Recommendations rated as Compliant or Largely Compliant, is in the top six for overall level of effectiveness and one of only two jurisdictions with a high level of effectiveness in relation to its risk assessment and domestic coordination mechanisms. S
Moody’s Analytics Wins an Artificial Intelligence Award17.1.2020 13:00:00 CET | Press release
Moody’s Analytics, a global provider of financial intelligence, has won the Best Financial Services AI Solution category at the 2019 Artificial Intelligence Awards. We won this award for the QUIQspread™ solution, which helps institutions automate the spreading of financial statements. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200117005191/en/ Our extensive financial spreading expertise and data resources are at the heart of the QUIQspread tool, which uses machine learning to understand an institution’s financial data spreading policies. Increased accuracy, shorter processing times, and lower costs are achieved as the tool gets smarter with every spread. As a software-as-a-service platform, QUIQspread is scalable with business growth. It contains data on the financials of more than 22 million private firms, which immediately helps it to improve spreading accuracy. The QUIQspread tool easily integrates with clients’ inter
L&T Technology Services Reports a 10% Increase in Q3FY20 Net Profit17.1.2020 12:36:00 CET | Press release
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, announced its results for the third quarter ended December 31, 2019. Highlights for Q3FY20 include: USD Revenue at $199 million; growth of 7% YoY Revenue at Rs 14,230 million; growth of 8% YoY EBIT margin at 16.8%; up 30bps YoY Net profit at Rs 2,041 million; growth of 10% YoY During the quarter, LTTS won 9 multi-million dollar deals across all major industry segments which includes 2 deals having TCV of USD30mn+ each. On a YoY basis, LTTS has increased its USD20mn+ clients by 2 and its USD10mn+ clients by 4. “Q3 results were consistent with our expectations. We had a strong performance in three segments - Transportation, Plant Engineering, and Medical Devices that are each growing in excess of 20% on YoY basis. Digital & leading-edge technologies - the growth driver for ER&D, contributed to 41% of Q3 revenues and grew by 29% YoY. We are seeing a new set of opportunities as
Schlumberger Announces Full-Year and Fourth-Quarter 2019 Results17.1.2020 11:50:00 CET | Press release
Schlumberger Limited (NYSE: SLB) today reported results for full-year 2019 and the fourth quarter of 2019. Full-Year Results (Stated in millions, except per share amounts) Twelve Months Ended Change Dec. 31, 2019 Dec. 31, 2018 Year-on-year Revenue $32,917 $32,815 0% Income (loss) before taxes - GAAP basis $(10,418 ) $2,624 n/m Pretax segment operating income* $3,978 $4,187 -5% Pretax segment operating margin* 12.1 % 12.8 % -68 bps Net income (loss) - GAAP basis $(10,137 ) $2,138 n/m Net income, excluding charges & credits* $2,054 $2,261 -9% Diluted EPS (loss per share) - GAAP basis $(7.32 ) $1.53 n/m Diluted EPS, excluding charges and credits* $1.47 $1.62 -9% Full-Year Revenue by Area North America $10,843 11,984 -10% Latin America 4,149 3,745 11% Europe/CIS/Africa 7,683 7,158 7% Middle East & Asia 10,017 9,543 5% Other 225 385 n/m $32,917 $32,815 0% North America revenue $10,843 $11,984 -10% International revenue $21,849 $20,446 7% North America revenue, excluding Cameron $8,525 $9,55
H.I.G. Capital Invests in Luxury Complex Near Venice17.1.2020 11:46:00 CET | Press release
H.I.G. Capital, LLC ("H.I.G."), a leading global private equity investment firm with over $35 billion of equity capital under management, announced today that one of its affiliates has recently completed an investment in Portopiccolo, a state of the art, self-contained luxury complex near Venice which includes 203 high-end residential apartments, a five-star hotel with a spa and 110 marina berths. Terms were not disclosed. H.I.G. continues to add to its sizeable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a focus on its target market of value-add small and midcap opportunities. Riccardo Dallolio, Managing Director and Head of H.I.G. Realty Partners Europe, commented: “This marks our 10th real estate investment in Italy. The Italian real estate markets represent a key part of our European value-add strategy and we continue to actively look at opportunities in the small/midcap sector across the capital structure.” Gabriele Mag
Philip Morris International Recognized for Business Excellence in 4th Annual One Planet Awards17.1.2020 11:21:00 CET | Press release
Philip Morris International Inc. (PMI) (NYSE: PM) has been recognized among this year’s most awarded winners in the One Planet Awards program, an initiative acknowledging business and professional excellence in industries around the world. The company earned four awards for its achievements in delivering a smoke-free future from the more than 50 judges, who represent a wide spectrum of global industry experts. PMI received Gold awards in the Achievement of the Year in Diversity and Milestone of the Year categories in recognition of becoming the first multinational company to achieve global EQUAL-SALARY certification; PMI’s president of South & Southeast Asia, Stacey Kennedy, was awarded Gold in the Woman of the Year in Business & the Professions category; and the company earned a Grand Trophy for being among this year’s most-awarded winners. “We are passionate about our work at PMI to achieve a smoke-free future and make better alternatives to cigarettes available for men and women who