British conglomerate which owns Bermuda's two Princess hotels -- has received about 15 serious approaches for all or part of its Princess-Metropole hotels business.

According to the Financial Times, interest in the ten-strong chain of Princess resort hotels has come mainly from North America.

Lonrho earlier this month shelved a planned public share offering of its Princess-Metropole chain after unidentified buyers stepped forward expressing interest in the chain.

Disposal of the hotels is seen as the first step in a three-way restructuring of the conglomerate planned by CEO Dieter Bock. Analysts expect the Princess chain could fetch $465 million.

ITT Sheraton, Hilton Hotels Corporation, Marriott International, and Renaissance Hotels have all been identified as propsective buyers, the Financial Times reports.

Princess Hotel's regional vice-president Stephen Barker yesterday told The Royal Gazette there are numerous possibilities facing the Hamilton and Southampton properties.

He refused, however, further comment on the potential sale of the Southampton or Hamilton Princess, saying only no offer has come through.