the Grotto Bay Hotel, is on the market.

An advertisement in The Royal Gazette has already attracted the attention of prospective buyers. Located at Blue Hole Hill in Hamilton Parish, the beach front property with 200 rooms is Bermuda's largest Bermudian-owned tourist operation. All but one of the 15 shareholders are Bermudian.

A total of 10,500 ordinary shares in the hotel's parent company, Grotto Bay Properties Ltd., are on the market for $60 a share, through Corporate Services Ltd., according to an advertisement in yesterday's daily.

Prospective buyers can obtain the entire block of shares for $630,000, or take lots of 500 shares for $30,000 a lot. A spokesman for Corporate Services said yesterday, "The hotel is in good shape and the owner of these shares is trying to raise capital and that is why he has put them on the market. These are ordinary shares with full voting rights and dividend rights.'' He said that he had already had "three or four offers'' for portions of the total block of shares.

The 10,500 shares represent 4.375 percent of the 240,000 common shares in Grotto Bay Properties Ltd.

Meanwhile, hotel manager J.P. Martin said that bookings are strong at present.

TOURISM TOU EXCHANGE STK