Ace Hotel Group Bought for $85M


Sortis Holdings is acquiring operator Ace Group International for $85 million, along with its management company, Atelier Ace. With the acquisition, Sortis will be ushering in a new chapter for the iconic brand in an era of cultural collaboration, innovation, and conscious growth, for both the company and the Ace Hotel brand at large.

“The Sortis platform is rooted in innovation, purpose, and impact, and aims to foster consumer brands that are at the forefront of culture,” said Paul Brenneke, executive chairman of Sortis. “Our acquisition of the storied Ace Hotel brand, long known for embodying and celebrating the unique culture of each of its destinations worldwide provides us with an opportunity to advance this vision by scaling the legacy brand in a thoughtful way.”

Sortis Holdings’ hospitality partner Kelly Sawdon led the acquisition. Prior to joining Sortis in 2021, she was a partner at the Ace Hotel Group and has been a key player in the Ace Hotel brand since shortly after its inception, leading its boundary-breaking creativity and success.  Sortis is uniquely poised to amplify the Ace Hotel brand as a series of spirited cultural hubs that ignite neighborhoods and foster collaboration.

“From the very beginning, Ace has had evolution built into its DNA. This acquisition marks an exciting turning point for the brand — tapping some original key players to usher in Ace’s next chapter of growth,” said Sawdon. “Armed with a team that boasts nearly two decades of experience with the brand, Sortis can help evolve Ace’s position as the hospitality powerhouse it has always been, synonymous with community, creativity and culture.”

Ace Group International has 12 hotels in different cities including Ace Hotel Toronto, which opened in 2022.

Combined, Sortis Holdings will have 15 hotels under management and a robust pipeline.


Venue & Supplier Profiles