Gleneagles bought by Hoxton hotel brand

Gleneagles, host of last year’s Ryder Cup, has been sold to a London-based hotel brand.

The five-star, 232-bedroom hotel in Perthshire has been bought by Ennismore, owner of growing boutique hotel brand ‘The Hoxton’, which currently has five properties in London, Paris and Amsterdam.
Gleneagles was put up for sale shortly after the 2014 Ryder Cup, with a guide price of more than £200 million. In its last set of published accounts, the resort turned over £43.5m, with an operating profit of £2.6

Ennismore is believed to have outbid several rivals, including KSL Capital Partners, owner of The Belfry, to secure the property, which has been bought from drinks company Diageo for an undisclosed sum. Diageo acquired Gleneagles in 1984, three years after it was sold by British Rail to a consortium of British businessmen for £10 million.

Ennismore’s chief executive Sharan Pasricha

Sharan Pasricha, founder and chief executive of Ennismore, said: “We are delighted to be acquiring the iconic Gleneagles hotel, which is one of the world’s most prestigious and recognisable venues. We plan to operate Gleneagles as a standalone business – alongside the Hoxton – to ensure that its management team can preserve the special appeal of this Scottish landmark.”

Ennismore will retain the existing Gleneagles management and workforce, headed by managing director Bernard Murphy, while investing a significant figure across the 850-acre estate comprising three golf courses, the two-Michelin star restaurant Andrew Fairlie, and the spa by Espa with 18 treatment rooms.

Pasricha also pledged to retain the distinctive Gleneagles culture, service and brand established over its 91-year history: “We will be proud guardians of this asset, ensuring that the service-levels and visitor experience for which Gleneagles is renowned are preserved and enhanced in the years to come,” he said.

Gleneagles’ sale is the latest in a growing list of UK-based golf resorts to have been changed hands in the last 18 months – joining the likes of Wentworth, Turnberry, Fairmont St Andrews and Lough Erne Resort, which were all sold in 2014, and The Belfry, which was sold in 2012.

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