Diageo to sell £200m Gleneagles Hotel

Diageo has put its Gleneagles Hotel complex on the market with an expected price tag of more than £200 million.

The 5-star luxury hotel, which hosted the Ryder Cup last year, boasts three golf courses, a spa and four restaurants set within its own private estate in Perthshire, Scotland.

Jones Lang LaSalle is reported to have been hired to sell the property, with Diageo understood to be considering offers from a number of parties having received “numerous expressions of interest, particulalry since the Ryder Cup”, according to a spokesperson for Diageo.

“Gleneagles is one of the UK’s finest luxury hotels and one of the world’s most fantastic golf resorts”, the spokesperson said. “We are sure there are many people who would love to own Gleneagles and have received numerous expressions of interest over the years and particularly since the Ryder Cup. As you would expect we have a duty to consider such interest carefully.”

It is not the first time that Diageo has considered selling the hotel. In 1998 an offer of £60m was said to have fallen short of the expected £100m.

Last month the drinks brand reported lower than expected sales with revenue falling flat in the first half, with the continued slowdown in China, Russia and North America hampering the company’s efforts to make a return to growth.

Three of its biggest brands, Johnnie Walker whisky, Smirnoff vodka and Captain Morgan, posted sales declines of 12%, 3% and 4% respectively.