Fulham want highly-rated Watford youngster Sean Murray, according to The Sun on Sunday.
The 18-year-old winger signed a new three-year contract at Vicarage Road only last month.
A number of clubs have watched him this season, with Everton also said to be interested in signing him.
It is claimed that Rovers will demand £5m compensation for Hoilett, who will be out-of-contract this summer but is too young to move on a Bosman free transfer.
Rangers chairman Tony Fernandes is said to have told manager Mark Hughes that he can move for Hoilett, 21, if the club stay in the Premier League.
And Chelsea are keen to sign Everton youngster Ross Barkley for £10m this summer and then loan him back to the Merseysiders for next season, according to The People.
It is claimed Chelsea are optimistic about their chances of doing a deal for the 18-year-old, who signed a four-and-a-half-year contract at Goodison Park in December.