• Tuesday, November 29, 2022

Business

Indian businessman Yusuf Ali acquires iconic Scottish hotel in $120m deal

Yusuf Ali

By: Keerthi Mohan

NRI businessman Yusuf Ali MA can now add an iconic Scottish hotel to the long list of luxury properties he has in the UK, India and the Middle East. Ali’s Twenty14 Holdings (T14H), the hospitality investment arm of his Abu Dhabi based Lulu Group International, has acquired the Caledonian in a $120 million deal. The T14H on Tuesday revealed its plans to invest $28 million to expand and enhance the hotel while retaining its distinctive architecture. The Caledonian currently has 241 rooms and is home to two restaurants operated by Michelin-starred siblings, Chris and Jeff Galvin. It also houses the…

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