Paris is always a good idea. And now travelers can escape to the French city and more European hotspots for less with a new Icelandair sale that has flights starting at just $349 round trip.
Sortis Execs Reveal More About Their Ace Hotel Acquisition
25.08.2023 - 14:15 / skift.com / Sean Oneill / Ace Hotel
On January 17, I reported that Sortis Holdings would acquire Ace Group International, owner of Ace Hotels, for $85 million in cash. Executives for Sortis Holdings, a Portland, Oregon-based hospitality firm, weren’t available to speak when I wrote that article. But I’ve since interviewed them. Here’s some more color on their plans.
Post-deal, the Sortis hospitality portfolio includes:
Sortis sees Ace as the latest iteration in its bet on lifestyle.
“Ace itself was certainly not a distressed purchase,” Brenneke said.
Ace won’t change its DNA much with the new owner, Sortis said.
Sortis says it has a good capital base, which will help Ace become proactive about development.
Sortis is looking beyond urban markets and beyond Ace.
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