Guy Hands, the financier who reaped millions from the pub industry, is to launch a rescue plan for the Le Meridien chain of hotels.
Mr Hands is prepared to inject more than £100m into the troubled international group on condition that its lenders reduce the value of their bank loans.
The 20-string syndicate of banks, which are between them owed £770m, say they want to see more details before deciding whether to support the plan.
Mr Hands led the highly-leveraged £1.6bn hotels deal two years ago.
