The sale of four Hilton hotels to Stardon has been put on hold due to legal complications with the leaseholds.
It took possession of seven hotels on 19 April and recently announced plans to reopen five of them as Holiday Inns this September.
A spokesman for Hilton said the legal complications and leasehold commitments for the remaining four hotels had proved "more significant than expected".
Nevertheless, he said Hilton would continue to try and sort out the problems and to pursue a sale of the hotels, although he was unable to estimate how long this might take.
"We will stay in touch with Stardon for the whole period and they may yet go to Stardon if we can get the problems ironed out," he said.
He added that other potential buyers who had shown an interest in the properties - which are believed to include De Vere Hotels - would also be kept informed of Hilton's progress.
Nicola Taylor, marketing director at Chardon Hotels, confirmed that Stardon would still be interested in taking the hotels if the complications were ironed out.
The affected properties are: the Hilton Bradford, the Hilton London Mews, the Hilton Portsmouth and the Hilton Edinburgh Grosvenor.
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