Starwood Hotels & Resorts has put its 219-room Turnberry golf and hotel resort in Scotland up for sale for £100m.
The company is seeking an outside investor to buy the property – chosen venue for the 2009 Open Championship – and fund a multimillion-pound development programme.
Starwood runs the Ayrshire-based resort, which it acquired ten years ago for about £32m, under its luxury Westin brand.
A company spokeswoman told The Times: “In line with Starwood’s asset strategy, the Westin Turnberry Resort, Ayrshire, has taken the decision to source an investment partner to realise the development potential of the resort, where there is 300 acres of undeveloped land.”
The company has appointed Jones Lang LaSalle Hotels to handle the process, with any deal thought to be dependent on Starwood being retained to manage the resort. It is understood to be willing to retain a minority stake.
In other news, Prince Alwaleed bin Talal has sold, through Kingdom Hotels, the Four Seasons hotel in London’s Mayfair for £70.5m to an unnamed buyer.
Turberry - the all-year-round resort >>
Turnberry to host golf 's Open Championship >>
By Daniel Thomas
E-mail your comments to Daniel Thomas here.