Spirits giant Diageo sells the iconic Gleneagles Hotel in Scotland to a private investment group led by London-based hotels group Ennismore, owner of the Hoxton brand.
Gleneagles opened in 1924 and has been wholly owned by Diageo, maker of Johnnie Walker whisky and Smirnoff vodka, since 1984.
In the year to 30 June 2014, the business generated revenues of ?43.5 million and made an operating profit of ?2.6 million.