the Salt Kettle property into condominiums.

Management Resources Bermuda Limited has advertised a notice of intention to develop the 41-room hotel into 14 "residential units''.

The notice was filed as the company and Glencoe owner Mr. Reggie Cooper were on the verge of signing papers for the sale of the property.

Mr. Cooper said yesterday the deal would probably go through "any day now''.

Mrs. Renee Edgecombe, spokesman for Management Resources, was not available for comment yesterday.

Glencoe is part of the Bermuda Collection, a group of seven cottage colonies and small hotels that formed in the mid-1980s for a distinct marketing identity.

The property closes today for four weeks. Although it is scheduled to re-open on January 31, Glencoe is expected to be in the hands of the new owners by that time.