Diageo’s Gleneagles Hotel up for sale

Drinks firm Diageo has put its Gleneagles Hotel – which hosted the Ryder Cup last year – up for sale following “numerous expressions of interest”.

The five-star Perthshire hotel which hosted last year’s Ryder Cup is now on the property market

The five-star Perthshire hotel is expected to fetch approximately £200 million.

The multinational company has reportedly called in property firm Jones Lang LaSalle to test the water before a decision to sell the hotel is finalised.

A spokesperson for Diageo said: “Gleneagles is one of the UK’s finest luxury hotels and one of the world’s most fantastic golf resorts.

“We are sure there are many people who would love to own Gleneagles and have received numerous expressions of interest over the years and particularly since the Ryder Cup.

“As you would expect we have a duty to consider such interest carefully.”

This is not the first time Diageo has attempted to sell the 850-acre site, which features 232 bedrooms, 12 function rooms, a number of restaurants and three golf courses.

The firm first tried to sell the resort in 1998 – offers failed to meet the £100m guideline – and is believed to have tested the market on at least two other occasions.

Now, however, Diageo is understood to be considering offers from a number of interested parties.

The company suffered with a 1.5% sales decline in the first quarter of 2014.

Despite recovering slightly it failed to return to growth by the end of the year, reporting a 0.1% decline during the final six months of 2014.