The Associated Press September 7, 2010, 12:13PM ET

Owner of troubled Pa. hotel files for bankruptcy

The owner of a troubled downtown Pittsburgh hotel has filed for bankruptcy.

The former Pittsburgh Hilton Hotel filed for Chapter 11 bankruptcy protection Monday in Pittsburgh. The hotel owned by Shubh Hotels Pittsburgh LLC of Boca Raton, Fla., claims in the court filing that it has between $10 million and $50 million in assets and between $50 million and $100 million in debts.

The high-profile hotel that sits across from the city's iconic Point State Park had been a Hilton until the hotel chain pulled its name from the building last week. Also, Black Rock Financial Management Inc. of New York City foreclosed on the hotel last week.


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