The Gleneagles hotel in Auchterarder, Perthshire, has reported a 4.7% increase in turnover to £46.7m.
However, the five-red-AA-star, 232-bedroom hotel's pre-tax profit was down 7.4% from nearly £4m in 2015 to £3.7m, according to the hotel's annual report lodged at Companies House for the year ended 30 June 2016.
The hotel is currently undergoing a multi-million pound refurbishment, which so far has included a new-look Century Bar, a new Auchterarder 70 bar, and a £1.1m renovation of 35 bedrooms.
Private investment and property company Ennismore, which owns and operates the Hoxton group of hotels, acquired the hotel from drinks giant Diageo in 2015, for around £200m.
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