Sortis Holdings to Acquire Ace Hotel Group for $85 Million

Sortis Holdings, Inc. | January 18, 2023

PORTLAND, Ore., Jan. 18, 2023 -- 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 agree...