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February 2, 2015

Scotland's Gleneagles Hotel to Be Sold Following Ryder Cup




The Gleneagles Hotel in Scotland is to be put up for sale after owner Diageo announced it had received “numerous ­expressions of interest” since last year’s Ryder Cup golf tournament.

The Perthshire resort, which has three golf courses, could sell for more than $300 million. Diageo, which does not own any other hotels, has owned Gleneagles since 1984, three years after it was sold by British Rail. Diageo attempted to sell the 850-acre site in 1998 but offers failed to meet expectations, thought to be around $150 million.

RELATED: Scotland's Gleneagles Hotel to Build New Event Space

According to IMR partner site MeetPie, the golfing event helped to bring the five-star golf and spa resort in Perthshire to the world's attention, and buyers are now reportedly "eager to invest." 

The resort is also slated to build a new 8,200-square-foot event space: The Gleneagles Arena. Located within Gleneagles’ 850-acre estate, as part of its Activity School complex, the Gleneagles Arena will turn one of the property's current equestrian arenas into an event venue that also doubles as a four-court indoor tennis center.

In September, Gleneagles completed a $400,000 refurbishment of its flagship conference venue, The Gleneagles Suite. 

 


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