Ace Hotels have a new owner after a blockbuster all-cash deal. Sortis Holdings now owns the hotel chains 11 properties across the U.S., Canada, Australia and Japan, as well as its other brands including Maison de la Luz, after an $85 million sale.
According to Boutique Hotelier, Sortis became a co-owner of Ace Hotel in 2021 in an effort to fund the company’s refurbishment plans following the pandemic.
Sortis reportedly will also look to acquire existing properties that can be brought into the Ace brand.