A number of hotel groups and private equity firms are reportedly preparing offers of between £550m and £600m for Dawnay Shore Hotels.

Thistle Hotels, owned by Singapore-based BIL International, Piccadilly Hotels, Alternative Hotel Group and private equity firm Permira have been given information packs on the company, according to the Daily Telegraph.

The groups are mulling first-round bids for the business, with bids due in next week, the newspaper said. A deal could be completed in the first half of the year.

Dawnay Shore, which owns 20 hotels including the Paramount chain, was created in 2004 by stockbroker and fund manager Shore Capital Group and investment firm Dawnay Day.

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By Daniel Thomas

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