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Starwood to sell Turnberry golf resort for £100m

07 November 2007 by
Starwood to sell Turnberry golf resort for £100m

Starwood Hotels & Resorts has put its 219-room Turnberry golf and hotel resort in Scotland up for sale for £100m.

Starwood runs the Ayrshire-based resort, which it acquired ten years ago for about £32m, under its luxury Westin brand.

A company spokeswoman told The Times: "In line with Starwood's asset strategy, the Westin Turnberry Resort, Ayrshire, has taken the decision to source an investment partner to realise the development potential of the resort, where there is 300 acres of undeveloped land."

The company has appointed Jones Lang LaSalle Hotels to handle the process, with any deal thought to be dependent on Starwood being retained to manage the resort. It is understood to be willing to retain a minority stake.

In other news, Prince Alwaleed bin Talal has sold, through Kingdom Hotels, the Four Seasons hotel in London's Mayfair for £70.5m to an unnamed buyer.

Turberry - the all-year-round resort >>
Turnberry to host golf ‘s Open Championship >>

Turnberry seeks Rouse successor >>

Starwood loses confidence in chief executive >>

Starwood shares rise to highest level in 20 years >>

By Daniel Thomas

E-mail your comments to Daniel Thomas](mailto:Daniel.Thomas@rbi.co.uk?subject=Starwood to sell Turnberry golf resort for £100m) here.

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