Scotland's Gleneagles Hotel to be put up for sale

The Gleneagles Hotel in Scotland is to be put up for sale after owner Diageo announced it had received “numerous ­expressions of interest” since last year’s Ryder Cup golf tournament.

The Perthshire resort, which has three golf courses, could sell for more than $300 million. Diageo, which does not own any other hotels, has owned Gleneagles since 1984, three years after it was sold by British Rail. Diageo attempted to sell the 850-acre site in 1998 but offers failed to meet expectations, thought to be around $150 million.

It is believed there were further sale moves six years ago.

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Property firm Jones Lang LaSalle has now been drafted in by Diageo to seek potential buyers.

US private equity firm KSL Capital Partners, which owns another Ryder Cup venue the Belfry, near Birmingham, was reported yesterday to be interested.

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