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Ace Hotel Group consolidates under new ownership

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Ace Hotel Group, plagued by legal battles since the death of its co-founder, is looking to rise from the ashes and put subsequent legal battles behind it in the coming year.

After the death of majority owner and co-founder Alex Calderwood in 2013 by an apparent overdose, his father took legal action against his son’s company and co-founder Brad Wilson.

The elder Calderwood claimed that he had been misled by Wilson and not given his entitlement as majority owner, with a 51.7% shareholding.

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Since “amicable agreements” were reached in the dispute last year, Ace Hotel Group, founded in 1999, has been focusing firmly on what lies ahead.

Partners Brad Wilson, Kelly Sawdon and new co-owner Stefanos Economou now run Ace Hotels Group, which manages properties in New York, London, Los Angeles, Pittsburgh, New Orleans, Chicago and Palm Springs.

Next year will see the opening of Ace Hotel Toronto and Ace Hotel Sydney, while Ace Hotel Kyoto in Japan in April 2020 will open in time for the Tokyo Olympic Games.

Ace Hotel Group also started two new projects last year. Sister City is an intimate New York hotel brand and Maison de la Luz is a New Orleans luxury guest house.

Tags : Ace HotelAce Hotel GroupAce hotelsacquisitionhotelsoperatorsowners
Sam Lewis

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