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InterContinental Hotels ( (GB:IHG) ) just unveiled an update.
InterContinental Hotels Group PLC (IHG) has acquired the Ruby brand from Ruby SARL for €110.5 million, marking it as IHG’s 20th brand. The acquisition aims to leverage Ruby’s premium urban lifestyle concept and expand its footprint globally. Ruby, known for its ‘Lean Luxury’ approach, currently operates 20 hotels across Europe with plans to open 10 more. This move is expected to boost IHG’s presence in the urban micro segment, offering efficient and adaptable hotel solutions. The acquisition will enable Ruby to utilize IHG’s enterprise platform, enhancing distribution, technology, and loyalty programs, with plans to expand Ruby’s presence in the US and globally over the next 20 years.
More about InterContinental Hotels
IHG Hotels & Resorts is a global hospitality company known for its ‘True Hospitality for Good’ ethos. It operates 19 hotel brands across luxury, premium, essential, and suite categories, with over 6,600 hotels in more than 100 countries. Notable brands include InterContinental, Crowne Plaza, and Holiday Inn. IHG also runs one of the world’s largest hotel loyalty programs, IHG One Rewards.
YTD Price Performance: 5.64%
Average Trading Volume: 358,079
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £16.6B
See more data about IHG stock on TipRanks’ Stock Analysis page.
