Diageo Puts Ryder Cup Host Site Gleneagles Hotel Up for Sale
Published on Feb 4 2015 11:22 AM in Hotel
Diageo has put Scotland's luxury Gleneagles hotel and golf-course complex on the market as the world’s biggest distiller seeks to capitalise on a booming property market and the success of last year’s Ryder Cup.
Diageo has had “numerous expressions of interest over the years and particularly since the Ryder Cup,” played at the venue in September, Diageo spokeswoman Rowan Pearman said in a statement. “As you would expect, we have a duty to consider such interest carefully.”
Diageo hired real estate broker Jones Lang LaSalle Inc. to handle the sale of the property, which sprawls across 850 acres of central Scotland countryside and could fetch more than £200 million , according to The Times of London.
Built by the former Caledonian Railway Company, the 232-room Gleneagles hotel opened its doors in 1924, five years after golfers began playing its King’s course. Diageo and its predecessor company, Guinness Plc, have owned the complex since 1984, and previously tried to sell it in 1998, only to back off after failing to get a high enough offer.
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