I think the idea is the King (Pres Shinra) is using things he knows about from his own life as part of his fantasy (which includes going to the Promised Land, which Shinra is looking for). The original translation makes the scene much harder to understand. It's better with our retranslation. In fact, infinitely better, since this is one of the worst localized parts of the entire game.
Old
Honey Bee Inn
------------------------------
“…wheez…”
------------------------------
“Phew…”
------------------------------
“What's wrong, Grandpa?
You keep sighing.”
------------------------------
“…wheez…puff…
You know, Grandma…”
------------------------------
“Is this the room?”
------------------------------
“…whew…
I know our son rented this
for us and all, but…”{NEW}
“It's too nice for us.
Big round bed, gorgeous tub,
I just can't get comfortable.”
------------------------------
“Don't worry about it.
It's a high class neighborhood,
in the Big City.”{NEW}
“You keep complainin' and
we'll get in trouble.”
------------------------------
“Hey Grandma.
What's the name of the company
our son works for?”
------------------------------
“Oh, Grandpa.
Did you forget again?”
------------------------------
“…heave…
It's getting worse…”
------------------------------
“It's Shinra, you know, Shinra, Inc.?
It's the biggest company in the city.”
------------------------------
“If it's the biggest company,
it must be something.”
------------------------------
“Yeah.
It IS really something.”{NEW}
“He's doing well, and he told me that
he's been promoted to department head.”
------------------------------
“Oh…thanks to him we're
able to stay in a room like this.”
------------------------------
“Yeah, I'm really grateful.”
------------------------------
“Well, you wanna go to sleep?”
------------------------------
“All right…”
------------------------------
“Good night.”
------------------------------
“Yeah, good night.”
------------------------------
“…snore…snore…”
------------------------------
“…Heebeebeebee…snore…”
------------------------------
…The wind's calm now…
------------------------------
It's the curse of the resurrected Satan…
Our beloved Queen does not awaken…
------------------------------
The time is ripe…
------------------------------
A legend has been passed on
through generations…
------------------------------
…they sought the Promised Land…
------------------------------
…one with blue eyes…
------------------------------
…and a great white sword on his back…
------------------------------
…will not lead us to the Promised Land…
------------------------------
“Psst…
(Hey, shouldn't we stop him soon?)”
------------------------------
“…whisper…whisper…
(We have a luncheon
with President Shinra…)”
------------------------------
“Psst…
(You tell him……)”
------------------------------
“Psst…
(I can't tell him…)”
------------------------------
“Psst…
(Come on!! Oh, well…)”
------------------------------
“Psst…
(I'm so disgusted with the President.)”
------------------------------
“Psst…
(This happens every time we
come to Midgar on business.)”{NEW}
“(We came all the way to Midgar,
just for this?)”
------------------------------
“Psst…
(What're you complaining about?
You're just holding the lights.
I've gotta wear this heavy armor!)”
------------------------------
“Psst…
(I know, I know…
but it's all part of the job.)”
------------------------------
“Psst…
(Oh yeah, did you hear?
The President's wife found out
about this little hobby of his.)”
------------------------------
“Psst…
(Ha, ha…no way,
I didn't know that.)”
------------------------------
“Psst…
(Oh, looks like he's done.
Man, I'm glad!!)”
------------------------------
“Geez!! Mr. President!!
I mean, Your Majesty.”
------------------------------
“Ohhh…I'm sorry.
Please remove the ancient curse!”
------------------------------
“Psst…
(Oh man, not again!?)”
------------------------------
“Psst…
(How many times IS this?)”
------------------------------
“Psst…
(I don't even know…
whew…the King sure gets into this…)”
------------------------------
New
Honeybee Manor
------------------------------
#xy 24 16
Old Man
“…sigh…”
------------------------------
#xy 24 16
Old Man
“…sigh…”
------------------------------
#xy 208 16
Old Woman
“What's wrong?
Ye keep sighin'.”
------------------------------
#xy 24 16
Old Man
“…sigh…
It's juist…”
------------------------------
#xy 208 16
Old Woman
“It's no aboot the
room again,is it?”
------------------------------
#xy 24 16
Old Man
“Well,ah know our son must've spent
a bomb rentin' all this fer us,but…”{NEW}
“…a big,round bed,gorgeous tub…
Ah'm juist no used tae it,that's all.”
------------------------------
#xy 208 16
Old Woman
“Och,stop it will ye?
It disnae get much
better than this below.”{NEW}
“People would bite yer
hand off tae come here.”
------------------------------
#xy 24 16
Old Man
“Oh aye…
What's the name o' that
company he works fer?”
------------------------------
#xy 208 16
Old Woman
“Ye'v no forgot
again,have ye?”
------------------------------
#xy 24 16
Old Man
“…sigh…
Ah'm surprisin' mahself these days.”
------------------------------
#xy 208 16
Old Woman
“It's the Shin-Ra Company.
Shin-Ra!
The biggest company in Midgar!”
------------------------------
#xy 24 16
Old Man
“Wow,it must really be somethin'!”
------------------------------
#xy 208 16
Old Woman
“O' course it is!”{NEW}
“He's doin' really well.
Told me he'd bin made
head o' a whole department.”
------------------------------
#xy 208 16
Old Woman
“It's thanks tae him
that we're here.”{NEW}
“Ye should be grateful.”
------------------------------
#xy 24 16
Old Man
“Yer right.”
------------------------------
#xy 208 16
Old Woman
“Should we get some kip?”
------------------------------
#xy 24 16
Old Man
“Aye,we're both tired.”
------------------------------
#xy 208 16
Old Woman
“Ni-night.”
------------------------------
#xy 24 16
Old Man
“Night,love.”
------------------------------
#xy 24 16
Old Man
“…zZ…ghh…zzZ…”
------------------------------
#xy 208 16
Old Woman
“…zzZ…”
------------------------------
#cy 96
…{OK}The wind{OK} has ceased.
------------------------------
#cy 96
Is this the curse of the resurrected Devil King?{NEW}
Our most beloved queen does not awaken.
------------------------------
#cy 96
The time is ripe.
------------------------------
#cy 96
A legend handed down since ancient times.
------------------------------
#cy 96
Our destination,the Promised Land.
------------------------------
#cy 96
The one with blue eyes…
------------------------------
#cy 96
…and a great unsheathed sword on his back…
------------------------------
#cy 96
…cannot lead us to the Promised Land.
------------------------------
“…psst…
(Hey,if we don't stop this soon
we're gonna be in trouble.)”
------------------------------
“(We have an appointment
for lunch and he's
here playing a king.)”
------------------------------
“(You tell him.)”
------------------------------
“(No way. I can't.)”
------------------------------
“(Psh! Whatever.)”
------------------------------
“(I can't believe our boss sometimes.)”
------------------------------
“(This happens every time
we come to Midgar on business.
We dragged ourselves all the way
from the Gold Saucer for this…)”
------------------------------
“(What are you complaining about?
You just have to handle the lights.
I have to wear this frickin' armour
and it weighs a ton!)”
------------------------------
“(Yeah,but I guess it's
all part of the job.)”
------------------------------
“(Speaking of which,have you heard?
…About his wife finding out about all this?)”
------------------------------
“(Ha,ha!
No way!)”
------------------------------
“(Ah,looks like he's done.
Phew… Thank god!)”
------------------------------
“Urk! Mr President!
I mean,Your Majesty…”
------------------------------
“Waaah! Sorry!
Please spare me the ancient curse!”
------------------------------
“(Oh man,not again!)”
------------------------------
“(How many times is this now?)”
------------------------------
“(I've lost count.
Heh… ‘His Majesty’
sure does get into this.)”
------------------------------
The old woman and old man are Reeve's parents. Hence the Scottish also. The implication is that Reeve's normal accent is the Scottish (or Kansai in Japan) but he fakes a more refined accent as part of Shin-Ra.