Blackburn are eyeing around £6million from a tribunal, says the Daily Mail.
The Hoops are trying to secure a work permit for Rovers contract rebel Hoilett, before completing the Canadian's signing ahead of German side Borussia Monchengladbach.
Rovers boss Steve Kean said: "QPR might make us an offer, if not it might go to a tribunal. We were always hopeful he would go to a club here because the compensation would be greater.
"I am sure that will be reflected when the time comes."