Gleneagles Hotel may sell for £200 million this week

The Herald Scotland is reporting that Diageo is in exclusive talks over the sale of Gleneagles Hotel in a £200 million deal that could be announced as early as this week.

The report claims that London hotel owner Ennismore Capital may be the purchaser of the Perthshire landmark, which was acquired originally in the privatization of British Rail's hotels in 1982 and was subsequently sold to Bell's and Guinness.

Diageo tried to sell the hotel in 1998 and again in 2009. It saw a £1 million rise in operating profits to £1.9 million in the financial year prior to hosting the Ryder Cup last autumn, on turnover up from £39 million to £44 million. 

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Ennismore also owns a hotel in London's Shoreditch neighborhood as well as other international properties. 

Suggested Articles

The Louis Group collection is tagged at a total enterprise value of €178.6 million. 

Barron Hilton, son of Hilton founder Conrad Hilton, served as president/CEO of Hilton from 1966 to 1996.

Kenny Kan is tasked with increasing the Outrigger portfolio through acquisitions and management contracts in Hawaii and global resort destinations.