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Ashford to sell hotel to Pandox for about $58.4M

By Associated Press
May 16, 2008 | Comments (0)

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Real estate investment trust Ashford Hospitality Trust Inc. said Friday it will sell the Hyatt Regency Montreal to Pandox for approximately $58.4 million.

The Canadian hotel is the only property Ashford owns outside of the U.S.

Pandox runs hotels under brands including Hilton, Holiday Inn, Hyatt, Clarion and Scandic.

The deal is targeted to close by the end of the second quarter.

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