Top hotel chain Ritz Carlton could be waiting in the wings to take over the management of the Hamilton Princess.

Hotel industry insiders said the US-based group had been pencilled in to move in if the Green family succeed in ditching current managers Fairmont.

The news came as the Green and Fairmont are expected to meet with a court-appointed arbitrator in New York this week, with a decision on whether the owners and Fairmont should patch up their differences or if Fairmont should be sacked expected within the next few months.

A source close to the Green family yesterday declined to comment on future plans for the hotel.

And a spokesman for Ritz Carlton said: “We have no signed agreement for any project in Bermuda at this time.”

But the luxury hotel group — which has 87 hotels in 29 countries, including the Caymans, US Virgin Islands and Aruba, would be seen as an ideal fit for the iconic Hamilton hotel, which the Green family are remaking as a top class destination with a massive $70 million investment.

The Royal Gazette exclusively reported last month that a legal action had been launched in New York to oust Fairmont, which also both owns and operates the Fairmont Southampton, from its management contract.

The battle broke out earlier this year after the Greens wrote to Fairmont giving ten days’ notice to cancel the agreement, which was inherited when the family bought the hotel in 2012.

The letter listed a catalogue of complaints — including an allegation that Fairmont had favoured the Southampton hotel over the Princess.

And it cited a “failure to operate the hotel and all of its facilities and activities consistent with the standard of conduct required.”

The letter added: “Operator has failed to maintain the physical and operational standards applicable to the full service luxury hotels comparable to the hotel ...”

The Greens also complained of a high turnover among senior staff, lack of staff training and “lack of cooperation and obstructive behaviour” when alerted to complaints.

Fairmont, however, denied the claims and said the owners had the “considerable benefit of their expertise in connection with the day to day operation and management of the hotel and the use of their proprietary materials, such as trademarks, software applications, operational manuals, corporate records, surveys and business and marketing plans.”

Fairmont’s legal team added: “Operator and advisor vigorously dispute that there has been any material default, dispute that any such defaults are not curable and dispute that the owner has the present right to terminate the agreement, let alone on ten days notice.”