US EditionSeibu Prince Hotels Worldwide Acquires Ace Group International
Seibu Prince plans to leverage Ace Hotel's cultural placemaking and global brand to expand its portfolio towards 250 hotels by 2035, paying $90 million for the acquisition.
- Seibu Prince Hotels Worldwide said Tuesday that it will acquire Ace Group International for approximately $90 million, expecting to close by Sep 30 with Ace operating as its U.S.-based subsidiary while retaining brand independence.
- SPW's long-term expansion plan calls for global growth to 250 hotels by FY2035, following Seibu Holdings' earlier $2.6 billion sale of Tokyo Garden Terrace Kioicho to Blackstone.
- Ace Hotel operates eight properties, including locations in New York, Kyoto, Brooklyn and Athens, and was founded in Seattle, Washington in 1999, pioneering communal spaces and reshaping boutique hospitality.
- Together, SPW and Ace will operate 94 hotels worldwide, with 7 more in the pipeline; the acquisition gives Ace access to Seibu Prince Global Rewards while preserving its independent brand as a subsidiary with projects like Ace Hotel Fukuoka opening in 2027.
- Industry consolidation is under way, exemplified by Seibu Prince Hotels Worldwide gaining Ace Hotel's branding expertise and Marriott International's $355 million purchase of CitizenM this year.
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12 Articles
Seibu Prince Acquires Ace Group International
Seibu Prince Hotels Worldwide (SPW), a core company of Seibu Group and one of Japan’s leading hospitality operators, has acquired Ace Group International (AGI), parent company of Ace Hotel and creative agency Atelier Ace. The acquisition was completed through SPW’s newly established U.S. subsidiary, Ace Hotels Worldwide Inc. Ace Hotel retains brand independence Under the […] The post Seibu Prince Acquires Ace Group International appeared first o…
Japan's Seibu Prince Buying Ace Hotel Brand for $90M - Mingtiandi
A hospitality unit of Japan’s Seibu Holdings has agreed to acquire the Ace Hotel brand for $90 million, giving the Tokyo-based travel conglomerate operational control of the boutique chain’s eight hostelries worldwide. Ace will operate as a US-based subsidiary of... Read More>> The post Seibu Prince Buying Ace Hotel Brand for $90M appeared first on Mingtiandi.
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