Twenty14 Holdings, the hospitality investment arm of Middle East-based LuLu Group International, today announced acquisition of its first property in India - the Abad Airport Hotel, Kochi.
The 54-room property is located near the Cochin International Airport and the acquisition marks Twenty14 Holdings' entry into the mid-scale hotel segment, the company said.
Twenty14 Holdings was in talks with Marriott to rebrand the property as Kochi's first Fairfield by Marriott Hotel.
The firm has assets worth more than USD 450 million across the UK, Gulf countries and India, it said.
The company recently opened its first five-star hotel in the UAE at Business Bay in Dubai, managed by Steigenberger Hotel Group, a leading Germany-based hospitality firm.
The group has also made a 110 million pound agreement with property developer Galliard Homes to create a luxurious five-star hotel at 1-5 Great Scotland Yard, the UK.
The custom-built 92,000 sq ft hotel, to be called the Great Scotland Yard Hotel, is set to open in early 2017, the release said.
