LONDON Bass Plc is the favorite to buy the Posthouse hotel chain for about $1 billion, the Sunday Business reported, citing sources familiar with the sale. Bass is seen as the likely winner after rival bidders Nomura Securities Co. and Marriott International dropped out of the running for Posthouse.
Bass could still face competition from Scottish rival Macdonald Hotels Plc, the paper said. Meanwhile, Nomura and Marriott are believed to be competing for the Le Meridien chain, also owned by Compass. (3/4/01)
SOURCE:Bloomberg News