The 134-bedroom Old Course Hotel overlooking the St Andrews golf course, in Fife, has transferred from Japanese to American ownership.
The five-star hotel, resort and spa has been bought by US firm Kohler, which owns the Whistling Straits resort in Wisconsin that hosted this year's USPGA Championship.
No purchase figure was attached to the announcement, but speculation ahead of the deal has suggested it went for a price tag of around £35m.
The hotel complex was previously owned by the Japanese company Kosaido Corporation.
Kohler immediately pledged to overhaul the hotel.
"There is an opportunity to upgrade and expand the hotel along with its spa through the integration of some of our world famous products and services," said Alice Edland, group executive for hospitality and real estate at the firm.
by Nic Paton
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