InterContinental Hotels Group PLC (IHG) has acquired the Ruby brand from Ruby SARL, marking its 20th brand. IHG is set to expand Ruby, a premium urban lifestyle brand, worldwide.
InterContinental Hotels Group PLC (IHG) has announced the acquisition of the Ruby brand and related intellectual property from Ruby SARL for an initial purchase consideration of €110.5m (~$116m). Ruby, a premium urban lifestyle brand, is set to be rapidly expanded globally by IHG.
Established in 2013, Ruby currently operates 20 hotels across Europe, with a pipeline of 10 more hotels set to open in the next three years. The brand’s ‘Lean Luxury’ approach, featuring signature touches like comfortable beds and showers in guest rooms, unique cocktails in 24/7 bars, and an overall focus on guest relaxation and restoration, has resonated with modern travelers.
IHG’s acquisition of Ruby is a strategic move to extend its appeal to modern, lifestyle-focused travelers. The brand is highly adaptable and space-efficient and offers hotel owners a cost-efficient premium hotel concept. Efficiency is achieved through space-saving designs and a high degree of operational standardization and automation, including self-service kiosks for expedited check-ins.
Ruby has proven successful in both new-build locations and conversions, including adaptive re-use across various commercial property types. The Ruby brand has achieved a net system-size compound annual growth rate (CAGR) of 26% over the last five years. IHG is set to leverage its proven track record of successfully internationalizing brands to fuel the growth of the Ruby brand in Europe and globally.
IHG expects to have the Ruby brand ready for development in the US by the end of the year. The collaboration with IHG will provide Ruby hotels with a robust enterprise platform of distribution and technology systems and access to IHG’s hotel loyalty program, IHG One Rewards. IHG is targeting the Ruby brand to grow to more than 120 hotels over the next 10 years and accelerate to more than 250 over 20 years across owners globally.
The acquisition agreement includes an initial purchase consideration of €110.5m (~$116m) for IHG to acquire the Ruby brand and related intellectual property. IHG plans to integrate the currently open Ruby hotels into its system in 2025, with completion expected by 31 March 2026.
Source: https://www.hotelnewsresource.com/article135244.html
Photos Source: Ruby Louise Hotel & Bar, Frankfurt, Germany – Image Credit IHG Hotels & Resorts, Hotel News Resource
