The former Hotel Theodore is still currently owned by The Sydell Group, which also owns the real estate where Ace Hotels stand in New York in Palm Springs.
But Sydell does not own the rights to the Ace brand.
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The Theodore will be managed by the Joie de Vivre group, which can certainly make an effort to bring a hip, cool boutique hotel to the Old Town Scottsdale scene, but judging by a few Joie de Vivre properties -- the space will be no Ace.