HOTEL chain Britannia are expected to finalise a deal for the iconic Scarisbrick hotel within the next 48 hours.

The Cheshire-based chain, which already own Pontin’s holiday camps and the Adelphi in Liverpool, has made a bid to purchase Southport’s Scarisbrick Hotel.

While both parties declined to comment last night, sources close to the hotel indicated a deal would be completed by tomorrow.

The 88-bedroom landmark, which overlooks the town’s Lord Street boulevard, was put on the market earlier this month with agents Christie’s for £3.25m.

Britannia, which claims to have a “proud record of returning neglected buildings to their former splendour”, owns 36 hotels in the North West.

Companies House documents show operating profits at the Grade II-listed building fell from £315,661 for 2007/08 to £72,083 last year – a 77% decline.

A report of the Scarisbrick Hotel’s directors admitted trading had been “seriously affected” by the recession.

Shareholder Sylvia Cafferkey, who inherited a 43.5% slice of the business when her husband and hotel managing director Tony died in 2009, said the two families had decided it was time to move on.