2014 Ryder Cup Venue Gleneagles Hits Market, Could Fetch Up To $300M

Gleneagles Hotel, the five-star Scottish resort which hosted the Ryder Cup last year, "is on the market and expected to fetch" around £200M ($300.5M), according to Alan McEwan of the Scotland DAILY RECORD. Drinks brand Diageo, which owns Gleneagles Hotel and the three golf courses on the 850-acre site, said it had received "numerous expressions of interest." Diageo tried to sell the resort in '98 but offers failed to meet the expected £100M. The hotel has 232 bedrooms, 14 function rooms and several restaurants, including Andrew Fairlie, which is run by the Michelin star chef. Property firm Jones Lang LaSalle has been called in by Diageo to seek buyers. U.S. private equity firm KSL Capital Partners, which owns the Belfry golf course near Birmingham which has hosted the Ryder Cup four times, was "reported to be interested" (DAILY RECORD, 2/2).