Ace Hotels Shows Taking Big Risks Pays Off

The company, founded by Alex Calderwood, started as a unique hotel venture in Seattle. It focuses on growth by opening hotels in unconventional markets like Pittsburgh and Detroit, despite financial risks. The company diversifies its revenue through products and services, such as restaurants and theaters. With a growing team, the company plans to open one or two hotels annually, without a specific end game or exit strategy.

What challenges did the company face when trying to invest in Pittsburgh?

Describe the company's growth plans in terms of hotel openings per year.