InterContinental Hotels Group (IHG) has acquired from Ruby SARL the Ruby premium urban lifestyle hotel brand and related intellectual property for initial purchase consideration of 110.5 million euros (US$115.6 million).
The Ruby brand currently operates 20 hotels (3,483 rooms) in major cities across Europe and has another 10 pipeline hotels (2,235 rooms). It targets modern travellers and properties are present in must-visit city destinations. Hotel owners are provided with space-efficient designs and an attractive, flexible concept that IHG expects to rapidly expand globally. Ruby will be IHG’s 20th brand.