Seibu Prince Hotels Worldwide (SPW), a key entity within the Seibu Group, has signed an agreement to acquire Ace Group International, the parent company of Ace Hotel and its in-house creative agency Atelier Ace.
Ace Hotel will operate as a subsidiary of SPW's hotel division upon completion of the transaction.
Valued at approximately $90m, the acquisition is set to enhance SPW's international presence and contribute to its goal of operating 250 hotels by FY35.
The transaction is being facilitated through SPW's newly established US subsidiary, Ace Hotels Worldwide, ensuring that Ace Hotel maintains its brand and creative independence post-acquisition.
SPW said the deal aligns with its disciplined operational platform and global infrastructure, which are set to underpin Ace's growth strategy.
In turn, SPW stands to benefit from Ace's expertise in branding, design, and cultural placemaking.
SPW president and CEO Yoshiki Kaneda said: “Today marks an important milestone in SPW's journey to become a truly global hotel group with Japanese roots. 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 transaction is anticipated to close by the end of this month.
Upon finalisation of the agreement, the combined operations will include 94 hotels worldwide, with an additional seven properties in development.
Ace Hotel chairman Brad Wilson said: “We're honoured to join Seibu Prince Hotels Worldwide. Over the past decade, we've grown the Ace brand globally while staying true to our founding principles: transforming historic buildings, contributing to neighbourhood revitalisation, and creating places that honour culture and community.
"Seibu Prince shares these values, and with their strategic vision and international reach, we can continue to safeguard Ace's independent spirit while taking the brand to new heights."
This deal is part of SPW's long-term strategy to diversify its portfolio and reinforce its position in the global market.
Furthermore, this partnership provides Ace with access to SPW's loyalty programme, Seibu Prince Global Rewards, offering exposure to a wider international audience while retaining operational and creative control.
Last year, Seibu Prince Hotels & Resorts renamed Park Regis Singapore to Park Regis by Prince Singapore, following a renovation of its guest rooms.
