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Pontchartrain Gone Before Hitting Auction Block

DETROIT-The landmark Downtown hotel has been purchased, by Boca Raton, FL-based Shubh Hotels Detroit LLC, just before it was planned to go up for auction. It will carry a Hilton or Sheraton flag after a renovation.

By Dan Heaton | Updated on February 17, 2005

DETROIT-The Hotel Pontchartrain has been purchased, less than a month before it was slated to go up for auction, by Boca Raton, FL-based Shubh Hotels Detroit LLC. The price of the hotel was not disclosed, says Harris Mathis, the group’s director of operations.

Mathis says the group plans to renovate the entire structure. The group plans to affiliate the hotel with the Hilton or Sheraton chains.

The hotel was previously owned by Irving, TX-based Highgate Holdings Inc. It was recently returned to its creditor, GE Capital, and was to have been auctioned March 8. That auction has been canceled, according to auction service Tranzon Bippus.

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