Diageo has sold Scotland’s Gleneagles Hotel to Ennismore. Although the price was not disclosed, analysts say it was likely to have been between £150 million (US$234.5 million) and £180 million (US$281.4 million).
Diageo owned Gleneagles for 31 years and reportedly sold the property because the rural Perthshire location was no longer an important part of its global business. Ennismore will keep Gleneagles’ management and workforce plus spend money on hotel renovations. The hotel will also continue to stock Diageo beverages.
Gleneagles was built by the Caledonian Railway Co. and opened in 1924.