MONTREAL, QUEBEC-Stockholm, Sweden-based Pandox has expanded its holdings here by purchasing the Hyatt Montreal for $58.3 million (or $58.5 million Canadian, or 340 million Swedish crowns). Ashford Hospitality Trust Inc., a REIT based in Dallas, sold the site that was its only asset in Canada.

An Ashford spokesman tells that the sale was part of the REIT’s overall goal of $600 million in asset sales in 2008. So far this year, the trust has sold or put under firm contract more than $217 million as part of its capital recycling strategy, he says.

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