
Reading Time: < 1 minuteAce first entered sale negotiations in early 2023 with Portland-based Sortis Holdings, which agreed to buy the brand for roughly USD $85 million. That transaction

Reading Time: 2 minutesUS: Portland-based investment firm Sortis Holdings has reportedly walked away from its acquisition of the Ace Hotels platform and its management arm.
![[Credit: Ace Hotel] Ace Group International acquired for $85m](https://boutiquehotelnews.com/wp-content/uploads/2023/01/Screenshot-2023-01-18-at-14.23.06-800x445.png)
Reading Time: < 1 minuteWorldwide: Lifestyle and hospitality operator and development firm Sortis Holdings has agreed to acquire the Ace Group International and its management company Atelier Ace for $85 million.