Hotellus Montreal Holdings Acquires Hyatt Regency

On June 13, 2008, Hotellus Montreal Holdings Inc., an indirectly wholly owned subsidiary of Pandox AB, one of the leading pure hotel property companies in Europe, with specialist expertise in the hotel market, hotel operations, hotel properties and business, has acquired for a price of $58.5 million from Ashford Hospitality Trust, the Hyatt Regency – Montréal, its second hotel located in North America after its acquisition last summer of the Montréal Intercontinental Hotel.

Pandox AB was represented by Stikeman Elliott LLP with a team comprised of John Leopold (corporate), François H. Ouimet and Valérie Mac-Seing (real estate), and Pierre Martel and Pierre-Louis Le Saulnier (tax).

McCarthy Tétrault LLP acted for Ashford Hospitality Trust with a team comprised of Michael D. Levinson (real estate) and Khashayar Haghgouyan (tax).