Turnberry Sale Goes Through
22 May 2008 | tshego
The owners of Turnberry, one of the venues that hosts The Open Championship, have agreed to sell the famous hotel and golf resort for £55m.
It is expected that Leisurecorp will complete the purchase from Starwood Hotels and Resorts later this year.
Under the terms of the deal, the hotel at Turnberry will be redeveloped before the resort hosts the Open Golf Championship in 2009.
Turnberry has two 18-hole championship courses – the Ailsa course and the Kintyre course.
Leisurecorp and Starwood have signed a letter of intent for the sale which is expected to be completed by 31 October, 2008.
It will see Starwood continue to operate the five-star resort, with a 30-year plus management contract.
