Ashford Hospitality Trust sells Minneapolis luxury hotel

Hotel real estate investment trust Ashford Hospitality Trust Inc. sold the Le Meridien Chambers in Minneapolis, Minneapolis / St. Paul Business Journal reported Jan. 25.

Details of the transaction such as the price and the buyer are not yet known.

However, the new owner of the 60-room luxury hotel at 901 Hennepin Ave. plans to terminate the hotel's management contract with Marriott International Inc. and become independent, according to the report, citing a company statement from Hodges Ward Elliot, which brokered the deal.