potential buyer within the next few weeks, The Royal Gazette has learned.

It follows the collapse last month of a proposed deal by owners Forte Hotels to sell the property to New Jersey-based developer James Dwyer. Forte has appointed New York-based real estate investment bankers Greenwich Group International to handle the sale of the 151 bedroom Warwick hotel.

Realtor raises hope of new Belmont Hotel suitor Greenwich managing director Mike Ryan told The Royal Gazette there will be no repeat of the experience with the James Dwyer Hospitality Group, which owns the White Sands Hotel in Paget.

Dwyer relaunched a bid for the Belmont in June last year and it is thought contracts were exchanged, but Forte pulled out in frustration last month because the deal had still not been concluded.

Greenwich will only deal with organisations which have a reputation for closing deals quickly.

"We are very encouraged by the level of response we have had and in a short period of time we hope to be able to announce the name of an owner group,'' said Mr. Ryan yesterday.

"We will be dealing with people who have expressed a high level interest.

They will have to have an ability to conclude this quickly and we will not go through a long period of due diligence similar to what we've done with other parties in the past.

"We have packages which we have made available to groups and we hope to have a response quickly so we can pick a group to work with.'' Forte is now running the golf course again, which should make it easier to package it with the hotel. Until last month, the course was being run under management contract.