London based drinks retailer Diageo has sold prestigious Scottish hotel Gleneagles after owning it for more than three decades. CEO Ivan Menezes confirmed the sale earlier this week and stated that Diageo was proud to have been associated with Gleneagles, but the time was ripe to sell.
He noted that the golf course at Gleneagles was the venue for last year’s Ryder Cup competition and this had raised the estate’s profile. He further explained Diageo’s business was alcoholic beverages and the hotel and golf course were not integral to its operations.
He also stated that he was glad Diageo’s beverages would still be available at Gleneagles. The company’s portfolio of whiskies includes Haig, Johnnie Walker and Talisker. Mr Menezes finished off by wishing Gleneagles’ staff and new owners Ennismore all the best for the future.
Ennismore CEO Sharan Pasricha expressed his happiness at getting hold of one of the world’s best known hotels and golf courses. He explained that his company would run Gleneagles as a standalone entity to keep its special Scottish heritage intact.
He continued by saying there would be no changes to management or staff at the hotel and Ennismore would be investing in the estate to enhance its attractions. As a footnote, he added that Gleneagles would be the ideal stablemate for Ennismore’s collection of Hoxton boutique hotels.
Ennismore is a hospitality premises developer. Sources close to the deal claim the company paid around £150 million for Gleneagles. This amount is quite a lot less than the original asking price of £200 million.