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UK: Ennismore Capital, the private investment company which owns Hoxton Hotels has bought the Gleneagles hotel and golf resort in Scotland.
UK: Ennismore Capital, the private investment company which owns Hoxton Hotels has bought the Gleneagles hotel and golf resort in Scotland.
Ennismore bought the property, which hosted the 2014 Ryder Cup, from international drinks giant Diageo, which has owned the property for the last 31 years. The purchase price has not been disclosed.
Diageo chief executive Ivan Menezes said: “Diageo is proud to have been the owner of Gleneagles but the hotel is not a core business for us and therefore following the success of the Ryder Cup we feel this is an appropriate time to realise value through this transaction. I am pleased that Diageo’s brands, especially our scotch brands, will continue to be an important feature at this iconic Scottish hotel. We wish Ennismore and all the staff at the hotel a successful future.”
Gleneagles’ most recent published accounts showed operating profit of £2.5 million on turnover of £43 million.
Ennismore recently revealed plans for for a third London property, due open in Southwark in 2018. It is also about to open its first European property in Amsterdam.
ennismore.com
