London-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.
Shinola Partners with Real Estate Firm for Hotel
The Shinola Hotel, scheduled to open in fall 2018, will have 130 rooms and a Detroit-inspired design.

Detroit--Watch, bike and leather goods brand Shinola is now opening a hotel, in concert with Detroit-based real estate company Bedrock.
The boutique hotel will be a “thoughtfully curated” lifestyle concept created to combine Shinola’s craftsmanship with Bedrock’s development and urban revitalization knowledge.
Scheduled to open in downtown Detroit fall 2018, the Shinola Hotel will have 130 rooms and a “Detroit-inspired design” created by Gachot Studios and Kraemer Design Group. It is intended to fill a gap they see in the boutique hotel market.
The hotel also will feature an “innovative food and beverage program” from New York-based NoHo Hospitality Group, known for opening top restaurants, hotels and live music venues around the country.
It was not clear by press time if the company planned to open more Shinola Hotel locations in the future.
“We are excited about this venture because it presents a challenging creative exercise to create a boutique hotel concept that Detroit will be proud of. We’ve assembled best-in-class talent that will result in an experience which reflects the philosophy of the Shinola brand,” said Shinola founder Tom Kartsotis.
“We are partnering with industry experts like Gachot Studios for interior design and help with real estate development, as well as NoHo Hospitality to guide the food and beverage programming. Josh Pickard, one of the NoHo Hospitality partners, grew up in Detroit so it all felt very organic.”
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