UAE’s Twenty14 to invest $140.7 million in building Indian hotels

Twenty14 Holdings, the hospitality investment arm of Abu Dhabi-based retail to shipping company LuLu Group International, will infuse about 1,000 crore rupees ($140.7 million) to build hotels in India over the next two years.

Recently, Twenty14, which expects have assets worth $1 billion by 2020 as well as hotels, inked a $142.4 million deal with UK-based property developer Galliard Homes to develop a luxury hotel at the Scotland Yard.

The company will introduce the first Tribute Portfolio by Marriott in Kochi, the Residence Inn by Marriott in Bengaluru as well as another Marriott constructed near the Kannur International Airport in Kerala.

Additionally, the company is expecting to carry out feasibility studies for a hotel project in Hyderabad and a resort project in Kerala.