Investors buy Detroit's Hotel Pontchartrain, plan renovation

02/17/2005 | Detroit Free Press

A group of investors acquired Detroit's Hotel Pontchartrain for an undisclosed price just weeks before the hotel was due to be auctioned off. The buyers, Boca Raton, Fla., partnership Shubh Hotels Detroit, who specialize in buying underperforming properties with strong turnaround potential, say they will renovate the property and are negotiating with Hilton and Sheraton to brand the property.

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