Fitzpatrick US Hotels believes it could open up to four new properties in America over the next five years if it gets the financial backing. Mr John Fitzpatrick, the company president, said yesterday that the group was discussing the possibility of expanding the brand in the US with a number of parties.

The refocusing on expansion follows the failure of talks on a sale of the group to Irish-American consortium, MPH.

"If we had the right investors on board, we can open three or four hotels over the next five years, however at the end of the day it has to be the right fit for the Fitzpatrick brand," he said.

Mr Fitzpatrick said that he was in preliminary contact with potential investors who had contacted him since the MPH talks ended.

It emerged last October that Mr Fitzpatrick was looking at bringing new investment into the hotel group. He discussed a deal with MPH until just before Christmas, but the talks are believed to have ended because of funding difficulties on the buyer's side. The sale price quoted at the time was $110 million.

Mr Fitzpatrick is expected to retain both an equity holding and a managerial position with the group if any of the current discussions bear fruit. "Whatever happens, I will continue to be involved in and lead the Fitzpatrick US group in the future." The most recent accounts for Fitzpatrick Enterprises, the firm behind the US hotels, posted a pre-tax loss of $939,000 in the year to October 2003. This compared to a loss of $2.4 million in the previous year.

The firm's directors said when they filed the accounts that they were pleased with the performance.