InterContinental Hotels Group (IHG) has acquired premium urban lifestyle brand, Ruby, for €110.5 million (~AU$181.5m) from Ruby SARL, as part of a master franchise and development agreement.
Established in 2013, the Ruby brand – 20th brand in the IHG portfolio – currently operates 20 hotels (3,483 rooms) in major cities across Europe and has another 10 pipeline hotels (2,235 rooms).
Targeting modern travellers in must-visit city destinations, Ruby offers space-efficient designs and a flexible concept that IHG expects to expand rapidly across the globe.
“We are delighted with the acquisition of Ruby, which further enriches our portfolio with an exciting, distinct and high-quality offer for both guests and owners in popular city destinations,” said IHG Hotels and Resorts Chief Executive Officer, Elie Maalouf.
“This acquisition demonstrates our focus on building our presence in large, attractive industry segments and using our experience of integrating and growing brands and hotel portfolios.
