Juergen Bartels, former chief executive of America's Starwood Hotels & Resorts [NYSE: HOT] , was understood to be overseeing the bid by Nomura, the newspaper said.

Industry sources told Reuters last week that other bidders included Bass (quote from Yahoo! UK & Ireland: BASS.L), Hilton (quote from Yahoo! UK & Ireland: HG.L), Marriott [NYSE: MAR] and Starwood [NYSE: HOT] . Two other private equity players Doughty Hanson and Blackstone had shown interest.

The Times said Nomura was thought to be among the front-runners, having submitted a bid for the Meridien and the Posthouse chains as well as some of the London Signature hotels.

SOURCE: Reuters