GLENEAGLES Hotel has been sold by Diageo, who have owned the five-star resort for 31 years.
Private investment group Ennismore snapped up the luxurious Perthshire hotel for an undisclosed amount, speculated to be upwards of £100 million.
Ennismore already owns the Hoxton chain of boutique hotels hotels, and is based in Shoreditch, East London.
Gleneagles Hotel was opened in 1924 and has been wholly owned by Diageo since 1984. Last year the business generated revenues of £43.5 million and an operating profit of £2.6 million.
Ivan Menezes, Chief Executive of Diageo, 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."
The sale follows several months of talks with Diageo, which has developed Gleneagles into a premier destination for golf enthusiasts and visitors from around the world.
In 2005, the 230-bedroom resort hosted the G8 summit, and in 2014 it was the site of golf's Ryder Cup, which attracted more than 250,000 visitors and a global television audience.
Ennismore said it would retain the existing Gleneagles management and workforce, and that no jobs would be lost.
The new owners also said they planned to invest significant sums across the estate to "build on the resort's reputation for excellence".
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."
"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."
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