Ace Hotel Boutique Chain Consolidates Ownership After Years of Turmoil
Photo Caption: The Ace Hotel has consolidated its ownership. This is the lobby of the Ace Hotel New York. Ace Hotel
Skift Take
Ace Hotel has finalized the consolidation of its ownership after years of disputes with the estate of late co-founder Alex Calderwood. Now that that's been settled, what will the boutique hotel chain concentrate on next?
Ace Hotel Group, the hip boutique hotel chain created in 1999, has finalized the consolidation of its ownership after some rocky years and legal battles.
The company is to be held by three active partners: Brad Wilson, Kelly Sawdon, and Stefanos Economou.
The estate of co-founder Alex Calderwood, who died in November 2013, will no longer be involved with the company after years of lawsuits.
“There were some disputes around that,” Ace Hotel Group President Brad Wilson told Skift. “Since then we’ve been able to clean everything up and come up with amicable agreements with all parties and structure the company really just within the active partners who are active
