Diageo is in exclusive talks over the sale of Gleneagles Hotel in a £200million deal that could be announced this week, reports have suggested.
London hotel owner Ennismore Capital is said to be poised to pay up for the Perthshire landmark, acquired originally in the privatisation of British Rail's hotels in 1982 and passing to Bell's then Guinness.
Diageo tried to sell the hotel in 1998 and again in 2009. It saw a £1m rise in operating profits to £1.9m in the financial year prior to hosting the Ryder Cup last autumn, on turnover up from £39m to £44m. Ennismore owns a hotel in London's Shoreditch and says it owns other unique properties around the world.
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