The Caterer

Ryder Cup boost pre-tax profits at Gleneagles

19 April 2016 by
Ryder Cup boost pre-tax profits at Gleneagles

The 2014 Ryder Cup helped boost pre-tax profits at the five-AA-red-star, 232-bedroom Gleneagles by 115% to £4.2m last year.

Turnover at the Perthshire property also grew by 6.8% to £47.6m during the 12 months to 30 June 2015, according to its consolidated profit and loss account lodged at Companies House.

Gleneagles enjoyed a global audience of hundreds of millions during the Ryder Cup in September 2014, during which the European team beat off their American rivals to carry off the biennial trophy.

The latest financial statement for Gleneagles is the final one to be published under the former ownership of Diageo, which sold the hotel on 1 July 2015 to private investment and property company Ennismore for a figure that is believed to have been around £200m.

Last week Ennismore, which also owns the designer-budget hotel brand, the Hoxton, announced plans for a "bold and creative" multi-million refurbishment of Gleneagles. Designers such as David Collins Studio, Timorous Besties, Macaulay Sinclair and Goddard Littlefair will be involved in creating a contemporary look to the 92-year-old property, while retaining its Scottish identity.

Gleneagles unveils multi-million pound refurbishment plan >>

Gleneagles sold to Hoxton owner >>

It's swing time at Gleneagles >>

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