Group 1 - Seibu Prince Hotels Worldwide will acquire Ace Group International, the parent company of Ace Hotels, for approximately $90 million, with the deal expected to close by the end of the month [8] - Ace's portfolio includes eight hotel properties in the U.S., with plans to open Ace Hotel Fukuoka in Japan in 2027 [3][8] - The acquisition aims to leverage Seibu Prince's global infrastructure and operational platform to support Ace's growth strategy while maintaining Ace's brand independence [4][8] Group 2 - The partnership is intended to accelerate expansion and strengthen market presence, aligning with Ace's hospitality model focused on cultural engagement and creative expression [5][6] - Seibu Prince operates 86 hotels, 31 golf courses, and 10 ski resorts globally, bringing significant scale and development expertise to the collaboration [5][6] - The acquisition is part of Seibu's long-term strategy to expand its global portfolio to 250 hotels by 2035 [8]
Seibu Prince acquires Ace Group International in $90M deal
Yahoo Finance·2025-09-16 09:58