Diageo closes Gleneagles Hotel and resort sale

Image via www.gleneagles.com

The famous Gleneagles Hotel and resort has been sold by international drinks giant Diageo, after 31 years of ownership.

Private investment company Ennismore, which already owns the small Hoxton chain of boutique hotels, bought the exclusive site for an undisclosed sum.

The most recent accounts for Gleneagles, which hosted the Ryder Cup last September and a G8 summit 10 years ago, showed turnover of £43m, and operating profit of £2.5m.

Diageo chief executive Ivan Menezes said: “Diageo is proud to have been the owner of Gleneagles but the hotel is not a core business for us and therefore following the success of the Ryder Cup we feel this is an appropriate time to realise value through this transaction.

“I am pleased that Diageo’s brands, especially our scotch brands, will continue to be an important feature at this iconic Scottish hotel.

“We wish Ennismore and all the staff at the hotel a successful future.”

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