Ace Hotel Group Acquired for $90 Million by Japanese Hotel Operator
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Palm Springs-based Ace Group International, an operator of boutique hotels, announced a deal to be acquired by Tokyo-based Seibu Prince Hotels Worldwide for $90 million. The deal includes the company’s in-house creative agency, Atelier Ace.
“Ace will remain the independently spirited company it has been since its founding in 1999, only now with the resources and infrastructure to unlock our full potential and expand meaningfully in the years ahead,” said Chris Penn, chief executive of Ace Hotels, in a statement.
Ace’s portfolio currently includes eight hotels, including U.S. locations in New York, Seattle and Palm Springs. The brand is currently developing Ace Hotel Fukuoka, its second hotel in Japan, which is slated to open in 2027. Seibu Prince currently operates 86 hotels, 31 golf courses and 10 ski resorts globally.
Seibu’s acquisition of Ace adds an internationally recognized lifestyle brand to its portfolio as it plans to expand its global portfolio to 250 hotels by 2035, per the company.
Information for this article was sourced from Ace Group International.
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