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| Version 2 | Version 3 |
|---|---|
| Gleneagles Hotel and golf resort sold by Diageo | Gleneagles Hotel and golf resort sold by Diageo |
| (about 7 hours later) | |
| Gleneagles Hotel and golf resort has been sold by drinks company Diageo, which has owned it for 31 years. | Gleneagles Hotel and golf resort has been sold by drinks company Diageo, which has owned it for 31 years. |
| The selling price is believed to have been about £150m. | |
| It has been bought by Ennismore, a private investment company, which already owns the small Hoxton chain of boutique hotels. | It has been bought by Ennismore, a private investment company, which already owns the small Hoxton chain of boutique hotels. |
| The new owner said it would retain the existing staff and make a "significant" investment in "one of the world's most prestigious and recognisable venues". | The new owner said it would retain the existing staff and make a "significant" investment in "one of the world's most prestigious and recognisable venues". |
| Gleneagles' most recent published accounts showed turnover of £43m, and operating profit of £2.5m | Gleneagles' most recent published accounts showed turnover of £43m, and operating profit of £2.5m |
| 'Iconic hotel' | 'Iconic hotel' |
| It hosted the Ryder Cup last September and a G8 summit 10 years ago. | It hosted the Ryder Cup last September and a G8 summit 10 years ago. |
| When it was put on the market in February, the hotel - which has three golf courses - was said to have a potential price tag of more than £200m. | When it was put on the market in February, the hotel - which has three golf courses - was said to have a potential price tag of more than £200m. |
| 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. | 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. | "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." | "We wish Ennismore and all the staff at the hotel a successful future." |
| Ennismore said the existing Gleneagles staff and management would be kept on, and that "significant sums" would be invested at the estate. | Ennismore said the existing Gleneagles staff and management would be kept on, and that "significant sums" would be invested at the estate. |
| 'Scottish landmark' | 'Scottish landmark' |
| Chief executive Sharan Pasricha said: "We are delighted to be acquiring the iconic Gleneagles Hotel, which is one of the world's most prestigious and recognisable venues. | Chief executive Sharan Pasricha 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 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." |
| VisitScotland chief executive Malcolm Roughead added: "We are delighted that Ennismore will be the new owners of the Gleneagles Hotel, and look forward to welcoming this new and significant investor to Scotland. | VisitScotland chief executive Malcolm Roughead added: "We are delighted that Ennismore will be the new owners of the Gleneagles Hotel, and look forward to welcoming this new and significant investor to Scotland. |
| "Following the success of the Ryder Cup last year and the G8 summit in 2005, Gleneagles has established itself as one of Scotland's most iconic resorts, delighting visitors from across the world with its commitment to quality and excellence - something we are sure Ennismore will strive to continue." | "Following the success of the Ryder Cup last year and the G8 summit in 2005, Gleneagles has established itself as one of Scotland's most iconic resorts, delighting visitors from across the world with its commitment to quality and excellence - something we are sure Ennismore will strive to continue." |