are about to be made at the Hamilton and Southampton Princess Hotels in the wake of an impending takeover by a new company.

Stephen Barker, regional vice president of Princess Hotels, spoke out after media reports that key management positions would be cut.

The company is currently negotiating a deal with Canadian Pacific Ltd, which is hoping to buy up the two premier resorts, along with five other hotels, in a $540 million package.

But details of the deal have yet to be finalised -- and until they are Mr.

Barker confirmed any talk on future personnel changes is "complete speculation''.

"That story came straight out of the sky,'' Mr. Barker said.

"Certainly we expect the deal to close but we expect it to close in early August and so at this point CPH aren't in any position to deal with those sorts of details at the moment.''