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 only spa by Guerlain in the UK.
The Caledonian joins Ali’s portfolio of $650 million worth of luxury properties across the world.
Just last year, the self-made billionaire’s food processing plant in Britain, Y International (UK) Ltd, won the prestigious Queen’s Enterprise Award for its contribution to UK’s trade and economy. At the time, Ali said the recognition was an honour and a catalyst to expand his businesses in the UK.
“I am extremely honoured and proud to hear the news about Y International UK Ltd being selected for the prestigious Queen’s Award this year. This great recognition will surely help us further strengthen our plans to expand business interests in UK and continue with our innovations and contributions to the dynamic economy of UK,” the Kerala-born entrepreneur said in a statement.
Y International UK Ltd’s food processing plant was established in 2013 to source and process British food products that were in demad in Lulu Group’s hypermarkets across the Middle East, India and Far East.
“We are in the process of setting up another world-class food processing plant in the 12.5 acres of land allotted by Birmingham City Council, to further boost our exports and cover bigger variety of products. The planned investment would be to the tune of £36 million,” Ali said at the time.