Albion are prepared to sell Nigerian frontman Odemwingie whilst Hoilett is keen to return to the Premier League after starting the season in the Championship with the relegated R's.
Potters assistant Mark Bowen said: "It's difficult to sign players but Mark and the board want to add strength to the squad.
"Junior and Peter belong to other clubs, but they are two players we know.
"Peter has got a great record in the Premier League and is proven. He's had a difficult time but we have the admiration for him as he's a top player."