Sortis Holdings Purchases Ace Hotel Chain for $85 Million
Portland, Oregon-based Sortis Holdings (a group that owns various hospitality brands) is set to purchase the Ace Group—which owns and runs the Ace brand, Maison de la Luz, Sister City and Atelier Ace. The all-cash transaction has been led by Kelly Sawdon, who joined Sortis in 2021 and previously held a position as partner at the Ace Hotel Group. She had “been a key player in the [Ace] brand since shortly after its creation by three friends (Doug Herrick, Alex Calderwood and Wade Weigel) in 1999 in Seattle.” The acquisition is part of a larger move by Sortis to own more “lifestyle”-leaning businesses—or what the company is calling “spirited cultural hubs.” These are places that “embrace locals and out-of-towners and may be located at resorts and luxury camping properties as well as in cities.” Find out more about the deal, and whether the price is right, at Skift.
Image of Ace Hotel Brooklyn
Via skift.com link opens in a new window
