Ennismore to acquire Gleneagles Hotel
Ennismore, the London-based hospitality real estate group and developer of The Hoxton, has announced a major expansion with the acquisition of the famous Gleneagles Hotel in Scotland.
Gleneagles and its associated facilities is being acquired from Diageo, which has owned and developed the site since 1984.
Sharan Pasricha, founder and Chief Executive of Ennismore, commented: “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.”
The acquisition, effected by a private investment group led by Ennismore, 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 resort hosted the G8 summit, and in 2014 it hosted the Ryder Cup, the European-US competition that attracted more than 250,000 visitors and a global television audience.
Ennismore will retain the existing Gleneagles management and workforce, ensuring that Gleneagles continues to play a major part in the local economy in Perthshire and the wider Scottish tourism industry. Furthermore, the new owners are committed to investing significant sums across the estate to build on the resort’s reputation for excellence.
Pasricha has pledged that the distinct Gleneagles culture, service and brand proposition would be preserved by Ennismore. “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.”
Gleneagles comprises more than 230 guestrooms, award-winning spa facilities and 850 acres of grounds offering an array of outdoor activities. It includes a two-star Michelin restaurant, three championship golf courses, luxury lodges and related resort facilities.
The acquisition coincides with the next phase of Ennismore’s international expansion, involving the opening of its new hotel: The Hoxton, Amsterdam. The Dutch site will be followed by Williamsburg, New York (2016), Paris (2017) and London, Southwark (2017).
Diageo will continue to have a relationship with Gleneagles which will see its brands, particularly its world-leading Scotch Whisky brands, continuing to be showcased at the luxury hotel.
