Search
The Caterer

Gleneagles for sale with £200m price tag

02 February 2015 by
Gleneagles for sale with £200m price tag

Gleneagles hotel is to be put up for sale with an expected price tag of more than £200m.

The news comes after owner Diageo said it had received "numerous expressions of interest" for the hotel since it hosted the Ryder Cup golf tournament in 2014.

The Perthshire hotel, which recently celebrated its 90th anniversary, has been under Diageo's ownership since 1984, three years after it was sold by British Rail to a consortium of British businessmen for £10m.

Diageo, which owns no other hotels, tried to sell it in 1998 but took it off the market after it failed to meet its expected £100m price tag. It is then thought to have tried to sell the hotel again around six years ago.

Now Jones Lang LaSalle has been appointed to seek possible buyers, and US private equity firm KSL Capital Partners, which owns the Belfry near Birmingham, was reported to be interested.

A spokesman for Diageo said: "Gleneagles is one of the UK's finest luxury hotels and one of the world's most fantastic golf resorts.

"We are sure there are many people who would love to own Gleneagles and have received numerous expressions of interest over the years, and particularly since the Ryder Cup.

"As you would expect, we have a duty to consider such interest carefully."

Ryder Cup 2014: It's swing time at Gleneagles >>

Hotel prices more than triple during Ryder Cup 2014 >>

Gleneagles Hotel launches leisure complex club after £5m refurb >>

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!