Diageo set to confirm sale of Gleneagles

Diageo, it is understood, has sold the Gleneagles Hotel to Ennismore Capital, the company behind The Hoxton boutique hotel brand, and also the company set up by 34 year old Sharan Pasricha, the son-in-law of one of India’s richest men, telecoms billionaire Sunil Mittal. The sale, set to be confirmed on Wednesday 1st July, emerged late last week in a story broken by Sky News. Gleneagles, which was put up for sale earlier this year, is thought to have attracted bids from companies including KSL Capital Partners who own The Belfry.

It is not the first time that Diageo, which owns Smirnoff, Gordon’s Gin and Johnnie Walker, has attempted to sell Gleneagles. It originally was put on the market in 1998. The price that Ennismore is thought to have paid exceeds £150m.

Pasricha set up Ennismore Capital four years ago, he also has an Accounting & Finance degree from Regents College where he was a Deans List Scholar and an MBA from London Business School. Ennismore currently has two hotels in its stable The Hoxton in Holborn and The Hoxton in Shoreditch with a third due to open imminently in Amsterdam. Restaurants include Hubbard & Bell and Holborn Grind, and the group has a close working relationship with Soho House & Co. One of Soho House’s owners Piers Adam also owns the Craigellachie Hotel in Speyside.