InterContinental Hotels Group (IHG) has acquired Ruby Hotels for an initial £87.6 million, aiming to enhance its foothold in attractive urban markets. Founded in 2013, Ruby Hotels operates 20 hotels, three of which are located in the UK. IHG reported a 7% increase in operating profit, highlighting positive performance metrics in revenue per available room. CEO Elie Maalouf emphasized the potential for expansion in Europe and beyond, leveraging a franchise-friendly model that promises strong owner economics.
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.
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.
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