If you’re looking to book a stay at one of the Ace Hotel’s unique, boutique properties, you may be wondering: who exactly owns and operates this trendy hotel chain? With its hip, music-centric vibe and lobby spaces that double as co-working areas and event venues, Ace Hotels have become a popular choice for travelers looking for a more social, design-focused hotel experience.

So let’s take a closer look at the origins and ownership behind the Ace Hotel brand.

In this comprehensive article, we’ll provide a detailed overview of who owns Ace Hotels, tracing the brand’s history and delving into its current ownership structure. We’ll look at how Ace Hotels got their start in Seattle in the late 90s before expanding into other cities, and how the company has evolved over the past two decades while still retaining its signature retro-minimalist aesthetic and focus on local culture.

We’ll also cover some key investors and partners involved with Ace Hotels, and what their stakes mean for the future direction of the brand. Whether you’re just curious who is behind these trendsetting boutique hotels or want to better understand Ace Hotels’ background, read on for the full story behind this unique hotel chain’s ownership.

The Origins and Early History of Ace Hotels

Founded in Seattle in 1999 by entrepreneurs Alex Calderwood, Wade Weigel, and Doug Herrick

The story of Ace Hotels begins in Seattle in 1999 when three entrepreneurs, Alex Calderwood, Wade Weigel, and Doug Herrick, came together with a shared vision of creating a unique and authentic hotel experience.

They saw an opportunity to create a boutique hotel that would cater to the needs of creative individuals and offer a different kind of hospitality. With their combined expertise in design, branding, and business, they set out to make their vision a reality.

First Ace Hotel opened in a renovated Salvation Army halfway house

The first Ace Hotel opened its doors in Seattle in 1999, in a renovated Salvation Army halfway house. This location set the tone for what would become a defining characteristic of Ace Hotels – their ability to transform unconventional spaces into stylish and inviting accommodations.

The founders saw the potential in repurposing existing buildings and giving them new life, rather than constructing new ones. This approach not only added to the unique charm of the hotels but also aligned with their commitment to sustainability and responsible design.

Calderwood shaped early retro-minimalist aesthetic and focus on local culture

Alex Calderwood, one of the co-founders of Ace Hotels, played a pivotal role in shaping the brand’s early retro-minimalist aesthetic and its focus on local culture. He believed in creating spaces that reflected the character and spirit of the cities they were located in.

This commitment to authenticity and community engagement became a defining feature of Ace Hotels, setting them apart from other boutique hotel chains. The design of each Ace Hotel was carefully curated to reflect the unique history, art, and culture of its surroundings, creating a truly immersive experience for guests.

Initial small boutique expansion in Portland, Palm Springs, and New York in the early 2000s

After the successful launch of the first Ace Hotel in Seattle, the brand began its expansion into other cities in the early 2000s. The founders recognized the demand for their unique concept and saw an opportunity to bring their vision to a wider audience.

They opened small boutique hotels in Portland, Palm Springs, and New York, each with its own distinctive character and charm. These locations quickly gained popularity among travelers seeking an alternative to the traditional hotel experience.

Today, Ace Hotels has grown into a globally recognized brand with properties in major cities around the world. Despite its expansion, the company has managed to stay true to its original vision of providing a unique and authentic hospitality experience.

Each Ace Hotel continues to embody the spirit of its location, celebrating local culture, design, and community.

WestCoast Hospitality, Thompson Hotels, and Major Expansion

WestCoast Hospitality became an early investor in Ace Hotels in 2006

When it comes to the ownership and history of Ace Hotels, WestCoast Hospitality played a significant role. In 2006, WestCoast Hospitality became an early investor in the boutique hotel chain. This partnership proved to be a game-changer for Ace Hotels, as it brought in the expertise and financial backing needed for the brand’s growth and success.

Helped finance larger boutique openings in cities like London and Panama City

With WestCoast Hospitality’s support, Ace Hotels was able to finance larger boutique openings in cities like London and Panama City. These expansions allowed the brand to reach a wider audience and establish a global presence.

The investment from WestCoast Hospitality not only provided the necessary funds but also brought valuable industry knowledge and connections to the table, contributing to the brand’s rapid growth.

Ace was sold to Thompson Hotels in 2016, leading chain’s further expansion

In 2016, Ace Hotels took another significant step in its ownership journey when it was acquired by Thompson Hotels. This acquisition marked a new chapter in the brand’s history and paved the way for further expansion.

Thompson Hotels, known for its luxury accommodations, saw the potential in Ace Hotels and recognized its unique appeal to millennial travelers.

Under Thompson, Ace Hotels now number around 20 properties globally

Since being acquired by Thompson Hotels, Ace Hotels has continued to flourish. The brand has seen steady growth and currently boasts around 20 properties globally. This expansion is a testament to the successful partnership between Thompson Hotels and Ace Hotels, as they continue to cater to the modern traveler’s desire for unique and authentic experiences.

Leadership and Management of Ace Hotels Today

Under the guidance of CEO Brad Wilson, Ace Hotels continues to thrive and expand, maintaining its position as a leader in the boutique hotel industry. Wilson, who has been with the company since 2016, brings a wealth of experience and a keen understanding of the brand’s unique vision.

He is responsible for overseeing the overall brand strategy and ensuring that Ace Hotels stays true to its core values.

Strong creative team maintains signature aesthetic and guest experiences

Ace Hotels is known for its distinctive aesthetic, which seamlessly blends vintage and contemporary elements. This unique style is maintained and developed by a strong creative team, which includes designers, artists, and architects.

They work closely with Wilson to create spaces that are both visually stunning and comfortable for guests. From the furniture in the rooms to the artwork on the walls, every detail is carefully curated to ensure a memorable experience for visitors.

General managers empowered to connect properties with local communities

One of the key aspects of Ace Hotels’ success is its ability to connect with the local communities in which its properties are located. This is achieved through the empowerment of general managers, who are given the autonomy to develop relationships and partnerships with local businesses, artists, and organizations.

By fostering these connections, Ace Hotels is able to offer guests an authentic and immersive experience that goes beyond the typical tourist experience.

Ongoing focus on collaboration with artists, cultural institutions, designers

Ace Hotels has always been deeply committed to supporting and collaborating with artists, cultural institutions, and designers. This commitment is evident in the numerous partnerships and collaborations that the brand has undertaken over the years.

From hosting art exhibitions and live performances to commissioning custom furniture and artwork, Ace Hotels aims to provide a platform for creativity and innovation. By bringing together diverse talents and perspectives, the brand continues to push boundaries and offer guests a truly unique and enriching experience.

The Ownership Structure and Investors Behind Ace Hotels

Ace Hotels, the popular boutique hotel chain, has a unique ownership structure that has evolved over the years. Today, the primary owner of Ace Hotels is the private equity firm Advent International. Advent International, with its extensive experience in the hospitality industry, recognized the growth potential of Ace Hotels and made a strategic investment in the company.

Primary owner today is private equity firm Advent International

Advent International’s acquisition of Ace Hotels has brought stability and financial support to the brand. As a leading global investor, Advent International has the resources and expertise to help Ace Hotels expand its presence and reach new markets.

This partnership has allowed Ace Hotels to focus on its core mission of providing unique and memorable experiences for its guests.

Other major investors include Goldman Sachs and AJ Capital Partners

In addition to Advent International, Ace Hotels has attracted other major investors who believe in the brand’s potential. One of these investors is Goldman Sachs, a renowned investment bank known for its successful ventures in the hospitality sector.

Another notable investor is AJ Capital Partners, a private real estate investment firm specializing in the acquisition and development of unique properties.

Advent’s stake demonstrates belief in Ace Hotels’ growth potential

Advent International’s significant stake in Ace Hotels is a testament to their confidence in the brand’s future. By investing in Ace Hotels, Advent International has shown its belief in the company’s ability to continue its growth trajectory and remain a leader in the boutique hotel industry.

This partnership has provided Ace Hotels with the necessary capital and strategic guidance to further expand its footprint across the globe.

Ongoing investments fuel brand expansion and innovation

With the support of its investors, Ace Hotels has been able to fuel its expansion and drive innovation within the brand. Ongoing investments have allowed Ace Hotels to open new properties in exciting locations and renovate existing ones to offer guests the best possible experience.

This commitment to growth and innovation has cemented Ace Hotels’ reputation as a pioneer in the boutique hotel industry.

For more information on Ace Hotels’ ownership and history, you can visit their official website

The Future Direction for Ace Hotels

Ace Hotels, known for their unique boutique experience, is set to continue its growth globally under the ownership and leadership of Advent International. With a strong track record in the hospitality industry, Advent is expected to bring new opportunities and expertise to further expand the Ace Hotels brand.

Advent expected to continue growing unique boutique footprint globally

Under Advent’s ownership, Ace Hotels has the potential to extend its footprint globally, bringing its distinct style and personalized experiences to new markets. Advent’s deep understanding of the hospitality industry and their global network can provide the necessary resources and support to help Ace Hotels thrive in different regions around the world.

Potential to expand brand into new markets and neighboring hospitality segments

The future direction for Ace Hotels includes exploring opportunities to expand the brand into new markets and neighboring segments within the hospitality industry. This could involve venturing into different types of accommodations, such as resorts or extended-stay properties, while staying true to the core values and ethos that define the Ace Hotels brand.

Balancing scale with preserving personalized experiences and local ethos

As Ace Hotels continues to grow, one of the key challenges will be to strike a balance between scaling up and preserving the personalized experiences and local ethos that have made the brand so popular.

Maintaining the unique charm and authenticity that guests have come to expect will be crucial in retaining Ace Hotels’ loyal customer base.

Ace’s passionate guests and brand loyalty key assets going forward

Ace Hotels’ passionate and dedicated guests, along with their strong brand loyalty, are considered invaluable assets as the company moves forward. The loyal following that Ace Hotels has built over the years provides a solid foundation for growth, and the company will continue to prioritize creating memorable experiences that keep guests coming back.

Conclusion

From its origins as a small Seattle startup to its current status as a leading boutique hotel chain backed by major international investors, Ace Hotels has come a long way while still retaining its unique essence.

By maintaining its indie spirit, collaborating with creative communities, and emphasizing distinctive design and experience, Ace Hotels has been able to grow successfully under thoughtful new ownership.

While the future is sure to see Ace expand into new markets and potentially new hospitality models, its core identity and guest loyalty form a strong foundation. The key figures powering Ace Hotels today believe in the brand’s enduring values and flexibly retro vibe, fueling further innovation.

So the next time you walk into an Ace Hotel lobby for a coffee or overnight stay, you can better appreciate the journey behind the brand that made it possible.