“The urban micro space is a franchise-friendly model with attractive owner economics and we see excellent opportunities to not only expand Ruby’s strong European base but also rapidly take this exciting brand to the Americas and across Asia, as we have successfully done with previous brand acquisitions.”.
Holiday Inn owner InterContinental Hotels Group (IHG) has snapped up another hotel brand as it reported stronger profits.
IHG said the business has a pipeline for 10 further planned hotels and it intends to grow the brand “substantially further”, with plans to expand into the US.
IHG chief executive Elie Maalouf said: “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.
It came as IHG revealed that operating profits grew by 10% to 1.12 billion US dollars (£890 million) in 2024, as it benefited from more hotel openings.
