LONDON Macdonald Hotels, the Scottish leisure group, is working on a $1.1 billion bid for Posthouse, the mid-market chain being sold as part of the Granada Compass hotel auction.
Macdonald is understood to have asked Cazenove, its blue-chip stockbroker, to work on the deal, but the Scots will face stiff competition from the likes of Bass, Marriott, Nomura, and Cinven, who are also bidding for the three-star operation. (2/2/01)
SOURCE: Sunday Business, London