Deals for the management of the other RBS-owned hotels are also close to finalisation, it is understood. It seems likely all 11 will be dropping the Le Méridien badge.

North American chains Fairmont, Starwood and Marriott are thought the most likely contenders for other London hotels. And De Vere has been linked to Selsdon Park, near Croydon, south London.

The remaining 126 hotels in Le Méridien may, however, retain the brand. Talks involving Hyatt International are said to be ongoing although the delay has created speculation that a rival bid might emerge. Millennium & Copthorne are thought likely contenders in this scenario.