Ashford has entered a combination agreement with Remington Holdings LP, a hotel property and project management company, reports RTT News.
According to the article, Ashford said it will create a new subsidiary structure that will acquire an 80 percent stake in Remington and all of Ashford’s existing business, while the Remington sellers will retain a 20 percent interest in Remington.
The transaction is expected to be completed in the first quarter of 2016.
