Ashford Hospitality Trust Inc. on Friday said it has agreed to sell the Hyatt Regency Montreal in Canada, to Swedish-owned Pandox for $58.3 million, divesting of its only property outside the United States. The sale is expected to close by the end of June.

The pending deal is part of a broad strategy of the Dallas-based real estate investment trust to sell some assets and use the proceeds to pay down debt, buy back shares or other options.

Earlier this month, Ashford Chief Executive Monty Bennett said in a conference call with analysts that the company’s for-sale properties were seeing more interest from foreign buyers with bank credit lines in place.

So far this year, Ashford has sold or has under contract $217.4 million in hotels. It owns 109 properties. The company’s overall goal for 2008 is to sell $600 million in hotels and resorts.