Sortis Holdings, Inc.

Sortis Holdings, Inc.

Sortis Aims to Double its Hotel Footprint by 2025

PORTLAND, Ore., Jan. 17, 2023 (GLOBE NEWSWIRE) — Sortis Holdings, Inc. (OTC: SOHI) (the “Company” or “Sortis”) — an ecosystem of innovative, experiential hospitality brands — has entered into a definitive agreement to acquire Ace Group International, along with its management company, Atelier Ace. With the acquisition, Sortis Holdings, Inc. will be ushering in a new chapter for the iconic brand in an era of cultural collaboration, innovation, and conscious growth, for both the company and the Ace Hotel brand at large. 

The purchase consideration is comprised of $85 million in an all-cash transaction pursuant to the terms of the purchase agreement. The transaction is expected to close at the end of Q1 2023, subject to customary closing conditions.

From award-winning restaurants to cult coffee to the world’s first sustainable sushi bar and now adding the Ace Group, the Sortis platform is an evolving ecosystem of idiosyncratic brands united in their vision and innovation. Equal parts incubator, operator, and development platform, Sortis helps these brands amplify their unique voices through strategic guidance and value-adding resources, like optimized capital access, real estate growth strategies, co-location opportunities, as well as our in-house digital team for data and analytics, and e-commerce capabilities.

“The Sortis platform is rooted in innovation, purpose, and impact, and aims to foster consumer brands that are at the forefront of culture,” said Paul Brenneke, Executive Chairman of Sortis. “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.”

Sortis Holdings’ hospitality partner Kelly Sawdon led the acquisition. Prior to joining Sortis in 2021, she was

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