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Gateway is handling Sortis Holding’s $85M deal to buy Ace Group International, which runs boutique Ace Hotels in locations such as Brooklyn, Manhattan, Los Angeles, Seattle, Toronto and Kyoto.
The Portland, OR-based hospitality management company promises to more than double the number of Ace Hotels to 30 units by 2025.
“Our acquisition of the storied Ace Hotel brand, long known for embodying and celebrating the unique culture of each of its destinations worldwide, provides us with an opportunity to advance this vision by scaling the legacy brand in a thoughtful way,” said Paul Brenneke, executive chair of Sortis.
Kelly Sawdon, Sortis’ hospitality partner, is a former partner of the Ace Hotel Group.
Gateway, which is based in Newport Beach, CA, has Zach Kadletz and Anna Rutter working the Ace transaction.
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Publicis Groupe reported 4.5 percent Q1 organic growth in net revenues to $4.1B despite the volatile macro environment.
PondelWilkinson, the Los Angeles-based IR and strategic communications shop, has expanded to the East Coast by adding Anreder & Company veterans following the retirement of principal Steven Anreder.
