Starwood Capital, the US-based private equity firm, has amassed a stake of almost 3 per cent in the UK leisure group Whitbread.

The move has ignited rumours that the acquisition of shares, which is understood have been carried out gradually over the last year, may lead to takeover bid for the company.

Starwood has not yet gone over the 3 per cent mark, which would require the company to make a formal declaration of interest, but it held discussions with its financial advisors JPMorgan on the subject of a buyout earlier this year.

Whitbread – which owns Costa Coffee, Premier Travel Inn and David Lloyd Leisure – has entered into talks to dispose of its TGI Friday’s restaurant chain and recently reported a 20 per cent profit hike in its half-year results.

Neither Starwood nor Whitbread has commented so far.