Gleneagles Hotel is to be put up for sale by its owner Diageo, the drinks group. There is speculation that the five-star Perthshire resort with three golf courses plus extensive conference and banqueting facilities could fetch more than £200 million.

Gleneagles was opened in 1924 by the London, Midland and Scottish Railway. The hotel’s own station, on the Stirling-Perth line two miles away, was upgraded for the Ryder Cup. When the railways were nationalised after the Second World War Gleneagles became part of British Transport Hotels in 1948. It was sold by British Rail in 1981 to a consortium of Scottish businessmen for £10million, along with the Caledonian Hotel and, what is now, The Balmoral hotel in Edinburgh. The hotel was bought by Perth-based distiller Arthur Bell in 1984, which sold it to Guinness the following year, both of which are now part of Diageo.

That is the brief history. Future developments include the new Gleneagles Arena opening spring 2015. This is a £650,000 indoor tennis centre and conference venue which will accommodate up to 2,000 people. Gleneagles has also embarked on a £1.1million upgrade of 36 bedrooms which will be completed in late spring 2015. Work includes new carpets and air conditioning.

Details:  www.gleneagles.com