Seibu Prince Hotels Worldwide Expands Global Portfolio
In an exciting development for the hospitality industry, Seibu Prince Hotels Worldwide (SPW), renowned for its exceptional service and offerings, has announced a pivotal acquisition that signifies its commitment to global expansion. This strategic move involves acquiring Ace Group International (AGI), the parent company of Ace Hotel and its in-house creative agency, Atelier Ace. This acquisition is executed through SPW's newly formed U.S. subsidiary, Ace Hotels Worldwide Inc.
A Harmonious Blend of Cultures and Excellence
SPW will operate Ace Hotel as a subsidiary of its hotel division, maintaining the beloved brand's independence in terms of creative vision and brand identity. This agreement not only preserves Ace’s unique characteristics but also values the ethos that has been integral to its success since its inception in Seattle in 1999.
Yoshiki Kaneda, President & CEO of SPW, expressed, “Today marks an important milestone in SPW's journey towards becoming a truly global hotel group with roots in Japan. Ace Hotel brings a vibrant, cultural spirit that beautifully complements our diverse portfolio. By combining Ace's innovative approach with our heritage of omotenashi, which is the Japanese art of hospitality, we aim to establish a distinguished hospitality group that resonates globally.”
Diverse Offerings from Seibu Prince Hotels
SPW boasts a geographically diverse portfolio, extending from urban hotspots to serene retreats. Its properties can be found in Tokyo, Kyoto, New York City, Singapore, Bahrain, and Hawaii, offering a variety of experiences from luxury urban hotels and traditional ryokans to picturesque ski resorts and golf retreats. This diversity allows SPW to cater to a broad spectrum of guests, ensuring a memorable stay for everyone.
Welcoming Ace Hotel to the SPW Family
Brad Wilson, Chairman of Ace Hotel, stated his enthusiasm for joining SPW, emphasizing the shared values of community and culture. “We are thrilled to align with Seibu Prince Hotels Worldwide. For over a decade, we have grown the Ace brand while remaining dedicated to our core principles: rejuvenating historic properties, enhancing community vibrancy, and creating spaces that respect cultural narratives. With SPW’s international vision, we can ensure Ace's independent spirit thrives as we embark on this exciting new chapter together.”
Plans for Future Expansion
The Ace brand has a rich portfolio, including notable locations such as Ace Hotel New York, Ace Hotel Kyoto, and the recently launched Ace Hotel & Swim Club Athens. Ongoing development initiatives feature the anticipated Ace Hotel Fukuoka, set to debut in 2027, signaling further expansion across North America, Asia, and Europe. This collaboration leverages SPW’s robust infrastructure and operational prowess to empower Ace's growth plans, while SPW stands to gain from Ace's esteemed credentials in branding and design.
The Vision for a Unified Future
Chris Penn, CEO of Ace Hotel, noted, “Ace has made a mark as a leader in experiential hospitality, successfully crafting environments that resonate across cultural landscapes. Our partnership with SPW establishes a solid platform to enhance our market presence and longevity while adhering to Ace's hospitality model, deeply rooted in creativity and cultural involvement.”
The merger contributes to SPW's long-term objective of expanding its global presence to encompass 250 hotels by 2035, introducing a unique lifestyle brand to its collection. With 86 hotels, 31 golf courses, and 10 ski resorts under its belt, adding Ace to the family positions SPW as a formidable player in lifestyle hospitality, appealing to markets driven by contemporary trends.
The Strength of Collaboration
Kaneda reinforced the strength of the partnership, highlighting the advantages each brand brings to the table. Seibu Prince offers expansive scale, infrastructure, and development expertise, particularly in the Asia-Pacific and Middle East regions, while Ace boasts a rich heritage and reliability in markets across North America and Europe. Together, these strengths promise rapid and effective expansion.
Finalizing the acquisition is expected by the end of September, with SPW planning to invest approximately USD 90 million for the acquisition of Ace. Once completed, the two brands will operate a combined total of 94 hotels globally, with seven additional properties poised to join the fold.
This acquisition also opens avenues for Ace to engage with SPW's loyalty program, Seibu Prince Global Rewards, expanding its reach while maintaining its creative independence.
About Seibu Prince Hotels Worldwide
Seibu Prince Hotels Worldwide (SPW) is a Tokyo-based hospitality venture that oversees hotels and resorts across the globe. As a key entity of the Seibu Group, which boasts over 20,000 employees and a diverse range of businesses, SPW merges operational excellence with strategic growth to cultivate lasting value. The company aims to expand to 250 hotels by 2035.
About Ace Hotel
Ace Hotel is dedicated to crafting unique environments that foster community and cultural vibrancy. Since 1999, Ace has forged spaces that embrace local history, social contexts, and architectural significance. Current locations span across various major cities, with plans for Ace Hotel Fukuoka set to open in 2027.
Frequently Asked Questions
What is the significance of Seibu Prince Hotels acquiring Ace Group International?
This acquisition represents a strategic move for SPW to enhance its global footprint and diversify its offerings through Ace's unique brand identity.
How will Ace Hotel operate post-acquisition?
Ace will function as a subsidiary of SPW, retaining its independence in brand and creative direction while benefiting from SPW's resources.
What are some notable properties within the Ace brand?
The Ace brand includes well-known hotels like Ace Hotel New York, Ace Hotel Kyoto, and Ace Hotel Brooklyn, among others.
What are the future expansion plans for the Ace brand?
Expansion plans include the opening of Ace Hotel Fukuoka in 2027 and further growth across North America, Asia, and Europe.
What are the long-term goals of Seibu Prince Hotels?
SPW aims to increase its global presence to 250 hotels by 2035, developing a robust portfolio of lifestyle brands.
