Buyers for almost all of the 15 Macdonald hotels put up for sale by the hotel group last October are understood to have been found.
Although Robert Barry & Co, the agent handling the sale, declined to comment, a source close to the disposal said the majority of the hotels were now under contract and deals were expected to be completed "sooner rather than later".
The hotels, which range in size from 26 to 108 bedrooms, are said to have achieved close to their asking prices, which range from between £2m and £7m.
The 15 properties, put up for sale because they did not fit with Macdonald's strategic plans, are understood to have been sold both in small packages and individually to local entrepreneurs and one small but well-known hotel group.
Source: Caterer & Hotelkeeper, 15 - 21 January 2004