Kochi, Jan 28 (IANS) Twenty14 Holdings (T14H), the hospitality investment arm of Abu Dhabi-based Lulu Group International, has signed a contract with Swiss real estate developer Necron AG for the upcoming Intercity Hotel Zurich Airport in Rumlang, Switzerland.
According to a statement issued on Monday by the T14H, with the addition of the Intercity Hotel, it marks Twenty14 Holdings entry into mainland Europe and joins a portfolio of $750m worth of luxury property across the UK, the Middle East and India.
The 260-room, 4-star hotel will open in 2020 and is located close to the Zurich International Airport. It will be operated by Deutsche Hospitality (Steigenberger Hotels AG) under a 20-year lease contract.
Adeeb Ahamed, Managing Director, T14H, said: "With this contract, we are entering into mainland Europe and it is an important milestone in the group's portfolio as we work towards becoming a billion-dollar investment firm by 2020."
Hailing from Kerala, Lulu Group's chairman is M.A. Yusuf Ali, who now operates out of the UAE.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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