Ownership for Ace Hotel Group has been consolidated, with the company now exclusively held by Brad Wilson, Kelly Sawdon and Stefanos Economou. Under this new direction, the partners are focusing on growth in Asia Pacific, Europe and the United States.
In 2016, the company faced lawsuits. Alex Calderwood, founder of Ace, passed away suddenly in 2013 and his father was appointed to represent his estate. Three years after Calderwood’s death, a lawsuit was filed alleging that Calderwood’s father was excluded from the business. At the time of his death, Calderwood owned a 51.74% member interest in Ace, according to the lawsuit.
Ace has plans to open a hotel in Japan and Toronto this year.
Photo: Ace Hotel Group