The sale of Ace Group International, which owns both Ace Hotel and creative agency Atelier Ace, is valued at around US$90 million (nearly AU$136 million) and has already been completed.
Alongside its huge presence in Japan, Seibu Prince Hotels Worldwide (SPW) operates several Australian properties, including the Park Proxi Gibraltar Bowral, which it acquired in 2023.
A fairly young hotel company, established in 1999, Ace Hotel has eight open hotels around the world, including several in the US, one in Toronto, Canada, one in Kyoto, Japan, one in Athens, Greece and a Sydney property, in Surry Hills, which opened in 2022. The group also has a second Japanese property in the pipeline to open in 2027 in Fukuoka, with further growth across North America, Europe and Asia part of the plan.
Following the acquisition, Ace Hotel will become a subsidiary of Seibu Prince, maintaining its brand and creative direction independently.
“Today marks an important milestone in SPW’s journey to become a truly global hotel group with Japanese roots,” said president and CEO of Seibu Prince Hotels Worldwide, Yoshiki Kaneda.
“Ace Hotel brings a distinctive cultural spirit that perfectly complements our portfolio.
“By uniting Ace’s pioneering approach with SPW’s heritage of omotenashi, the Japanese art of genuine hospitality, and our global footprint, we are creating a hospitality group that is authentic and globally trusted.
“The fit between our two companies is powerful.
“Seibu Prince brings scale, infrastructure, and development expertise across Asia-Pacific and the Middle East, while Ace has deep credibility and a proven track record in North America and Europe. By combining these strengths, we can expand faster and more effectively together.”
CEO of Ace Hotel, Chris Penn, echoed this final sentiment.
“Ace has established itself as a leader in experiential hospitality, with a proven ability to create destinations that resonate across cultures and markets,” said Penn.
“Our partnership with SPW provides the platform to accelerate expansion, strengthen our market presence and deliver long-term value, while staying true to Ace’s distinct hospitality model rooted in cultural engagement and creative expression. Together, we are entering the next chapter in Ace’s evolution as a global company.”
Between them, Seibu Prince Hotels and Ace Hotel have 94 open properties and seven hotels in development.
