The private investment company which owns boutique brand Hoxton Hotels has purchased luxury hotel and golf resort, Gleneagles.
The hotel, which hosted the Ryder Cup tournament last year, has been sold by Diageo, the drinks company that has owned the property for the last 31 years.
Gleneagles has been bought by Ennismore, a private investment company which owns the boutique chain of Hoxton Hotels.
While the selling price has not been disclosed, Gleneagles’ most recent published accounts showed a turnover of £43m, and an operating profit of £2.5m.
The hugely successful Hoxton brand has seen its popularity grow since it launched its first property in 2006. The Hoxton Holborn followed in 2014 and plans have been revealed for a third London property due open in Southwark in 2018.
The brand is also scheduled to open its first European property in Amsterdam this month.
Speaking about the sale, 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.
"We wish Ennismore and all the staff at the hotel a successful future."