Business | Investment
Dubai World subsidiary finalises Turnberry Resort deal
Leisurecorp, a Dubai World investment subsidiary focused on the sports and leisure sector, on Saturday said it has taken over the ownership of its latest acquisition, the Turnberry Resort in Scotland.
- Staff Report
- Published: 15:22 November 1, 2008
Dubai: Leisurecorp, a Dubai World investment subsidiary focused on the sports and leisure sector, on Saturday said it has taken over the ownership of its latest acquisition, the Turnberry Resort in Scotland.
First announced in May, the £55 million deal sees Turnberry transferred from Starwood Hotels & Resorts Worldwide, Inc. to Leisurecorp. Starwood has entered a 50 year management agreement with Leisurecorp to manage the hotel and after extensive restoration, the property will become a member of its Luxury Collection portfolio. From tomorrow the hotel will close for a £30 million refurbishment ahead of the 138th Open Championship in July 2009.
Internationally-renowned interior designer Mary Fox Linton has been appointed to lead the refurbishment which will see the 101 year hotel restored to the original vision of the original architect, James Miller. Working in conjunction with a heritage consultant, the refurbishment will ensure that the building's heritage is maintained while delivering beautifully designed stylish hotel rooms and facilities.
Alan Rogers, Group CEO, Leisurecorp, said: "Turnberry is a significant addition to our property portfolio and we take seriously our responsibility to restoring the hotel and facilities to its former glory. When the eyes of the world fall upon Turnberry next summer, we are determined that the venue will stand tall with pride, taking its rightful place as one of the top golf courses in the world.
"At Leisurecorp, we have been lucky enough to have worked with some of the world's best performers in their fields, from sporting superstars to designers and architects. Since we announced the deal with Starwood in May we have been working hard on the development plans and are delighted with Mary Fox Linton's appointment and her vision for Turnberry."
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