You are here: Home » Companies » News
Business Standard

Dubai-based LuLu Group strikes four-star hotel deal with Swiss firm

The companies involved said the design of the property will be based on the new Intercity Hotels Matteo

Press Trust of India  |  London 

Lulu Mall in Kochi. Photo: Wikipedia
Lulu Mall in Kochi. Photo: Wikipedia

Dubai-based Group which is owned by an Indian business tycoon has announced its entry into mainland after a new agreement with a Switzerland-based company to develop a new four-star hotel in the Swiss city of

(T14H), the hospitality investment arm of based Group International, said on Friday that it has entered into a forward purchase contract with for the upcoming Airport in Rmlang municipality of

The company said its new purpose-built, 260-room hotel, set to open in 2020 and will be located close to and offer good transport links, including access to in 10 minutes and the city centre in 15 minutes.

"We are excited to mark our entry into mainland with our first property in Zurich. It is an important milestone in our group's portfolio as we work towards becoming a billion-dollar investment firm by 2020," said Adeeb Ahamed, of T14H.

The latest hotel joins a portfolio of USD 750-million worth of luxury property across the UK, the Middle East, and led by T14H, the hospitality investment arm of Group, headed by Indian-origin Yusaffali MA.

In the UK, the group owns the Waldorf Astoria Edinburgh, The Caledonian in and has struck a 110-million pounds agreement with to create a luxurious five-star hotel at 1-5 Great Yard, the former headquarters of

The new Swiss property will include meeting and event spaces, a restaurant, an indoor fitness centre, and spa area as well as underground and outdoor parking facilities.

It will be operated by (Steigenberger Hotels AG) under a 20-year lease contract and is the first of many development projects planned by Necron AG's in cooperation with

"This is an exciting hotel development and we are delighted to be working in partnership with both and We very much hope this is the start of a successful long-term partnership with both," said Gerard van Liempt, CEO,

The involved said the design of the property will be based on the new Intercity Hotels design standards, and keeping in mind business travellers and tourists, the property will feature modern guestrooms and public spaces.

Thomas Willms, CEO, Deutsche Hospitality, added: "The launches our brand in and adds a highly attractive location to the portfolio.

"This hotel is symbolic of our growing international presence at strategically important locations and we are delighted to have such a reliable partner as the on our side."

Twenty14 Holdings said the new hotel is its second property to be operated by Deutsche Hospitality.

The German hospitality firm currently operates T14H's in

First Published: Sat, January 26 2019. 19:05 IST
RECOMMENDED FOR YOU