IHG purchases Ruby hotel brand for $116m
InterContinental Hotels Group (IHG) has acquired the Ruby brand and related intellectual property from Ruby SARL for an initial purchase consideration of €110.5m ($116m). Ruby is a high-end urban lifestyle brand catering to modern travellers in top city destinations,
InterContinental Hotels Group FY24 profit misses expectations, acquires Ruby brand
The company also announced a $900M share buyback program in 2025, as well as the acquisition of the Ruby brand for €110.5M. Ruby currently operates 20 hotels (3,483 rooms) in major cities across Europe with another 10 pipeline hotels (2,235 rooms) set to open over the next three years.
IHG Acquires Ruby Hotel Group For $116M, Plans Worldwide Expansion
IHG is continuing its global growth with the acquisition of Ruby Group, which operates 20 hotels across Europe.
IHG Buys Ruby Hotels as 20th Brand
InterContinental Hotels Group (IHG) said Monday it would acquire the Ruby hotel brand in a deal worth up to €291.5 million ($305.7 million), marking an expansion of its European portfolio. Why It Matters This acquisition will add another brand to IHG Hotels & Resorts' portfolio,
InterContinental Hotels Group acquires Ruby, its 20th brand
InterContinental Hotels Group, a British hospitality giant that includes Holiday Inn, said on Tuesday it has acquired premium European hotel business Ruby for an initial €110.5 million ($115 million).
Holiday Inn owner IHG buys Ruby Hotels as profits rise
It came as InterContinental Hotels Group revealed that operating profits grew by 10% as it benefited from more hotel openings.
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