IHG Buys Ruby Hotels as 20th Brand
Skift Take
IHG's latest franchising deal underscores how there's distribution pressure on independent hotel brands to join forces with the largest hotel groups.
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 MattersThis acquisition will add another brand to IHG Hotels & Resorts' portfolio, which already includes Crown Plaza, Kimpton, and Holiday Inn.
The deal reflects the ongoing
