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,

IHG is continuing its global growth with the acquisition of Ruby Group, which operates 20 hotels across Europe.

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,

Led by increases in revenue per available rooms (“RevPAR”) in Europe and the Americas which offset continued losses in China, InterContinental Hotels Group (NYSE:IHG) realized a 15% improvement in its profitability as revenue increased by 7% to $2.

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).

InterContinental Hotels Group (IHG) has acquired Ruby Hotels in a £92m deal as it seeks to quadruple the urban lifestyle brand’s global footprint over the next ten years

Holiday Inn owner InterContinental Hotels Group (IHG) has snapped up another hotel brand as it reported stronger profits.

IHG acquired Ruby Hotels for €110.5 million and reported 2024 financial results with a rise in revpar, average daily rate and occupancy.

IHG said their operating profit rose by 7% to £1.83 billion in the year and the sales metric, world wide revenue per available room increased by 3% and in the final quarter of th

It came as InterContinental Hotels Group revealed that operating profits grew by 10% as it benefited from more hotel openings.